A House subcommittee held the first of two hearings to examine the state of the U.S. economy as the country faces possible impacts from the European financial crisis.
The Subcommittee on TARP, Financial Services and Bailouts of Public and Private Programs of teh House Financial Services Committee held the hearing entitled, "What the Euro Crisis Means for Taxpayers and the U.S. Economy."
The latest European bank bailout effort in late November was a coordinated effort by the U.S. and five central banks from around the world.