Financial Regulations Law Implementation
2011-05-12T20:44:00-04:00https://ximage.c-spanvideo.org/eyJidWNrZXQiOiJwaWN0dXJlcy5jLXNwYW52aWRlby5vcmciLCJrZXkiOiJGaWxlc1wvZjc2XC8yOTk0NzEtbS5qcGciLCJlZGl0cyI6eyJyZXNpemUiOnsiZml0IjoiY292ZXIiLCJoZWlnaHQiOjUwNn19fQ==Officials testified on implementing provisions of the 2010 financial regulatory law, the Dodd-Frank Act. The act regulates so-called “too big to fail” financial institutions and companies that pose a systemic risk to the entire economy.
Federal Reserve Chairman Ben Bernanke said if Congress did not agree to raise the debt limit “the financial system would again destabilize, which would have extremely dire consequences for the economy.” FDIC Chair Sheila Bair said efforts to repeal the law would be “very harmful” and would be an “open invitation to bailouts.”
During the hearing, the committee also voted 12-10 along party lines to approve the nomination of Peter Diamond to be a Federal Reserve Governor. This was third time the committee has approved Mr. Diamond’s nomination.
Federal Reserve Chairman Ben Bernanke said if Congress did not agree to raise the debt limit “the financial system would again destabilize, which would have extremely dire consequences for the economy.” FDIC Chair Sheila Bair said efforts to repeal the law would be “very harmful” and would be an “open invitation to bailouts.”
During the hearing, the committee also voted 12-10 along party lines to approve the nomination of Peter Diamond to be a Federal Reserve Governor. This was third time the committee has approved Mr. Diamond’s nomination.
Officials testified on implementing provisions of the 2010 financial regulatory law, the Dodd-Frank Act. The act regulates so-called “too bi… read more
Officials testified on implementing provisions of the 2010 financial regulatory law, the Dodd-Frank Act. The act regulates so-called “too big to fail” financial institutions and companies that pose a systemic risk to the entire economy.
Federal Reserve Chairman Ben Bernanke said if Congress did not agree to raise the debt limit “the financial system would again destabilize, which would have extremely dire consequences for the economy.” FDIC Chair Sheila Bair said efforts to repeal the law would be “very harmful” and would be an “open invitation to bailouts.”
During the hearing, the committee also voted 12-10 along party lines to approve the nomination of Peter Diamond to be a Federal Reserve Governor. This was third time the committee has approved Mr. Diamond’s nomination. close
People in this video
Hosting Organization
Purchase a Download
Financial Regulations Law Implementation
-
MP4 video - Standard
- Price:
- $6.99 or Free with MyC‑SPAN
-
MP3 audio - Standard
- Price:
- $0.99
Related Video
-
2010 Financial Regulations Law
The Senate Banking Committee met to mark the one-year anniversary of President Obama signing the Dodd-Frank Financial Re…
-
Financial Stability Oversight Council Report
Treasury Secretary Timothy Geithner testified on the U.S. economy and financial stability. Among the topics he addressed…
-
Fannie Mae and Freddie Mac Oversight
Edward DeMarco testified about the operations and regulatory practices at the Federal Housing Finance Agency (FHFA). Amo…
-
Financial Regulations Bill Implementation
Witnesses testified on the implementation of the 2010 financial regulations law. Witnesses also testified about the coll…