Jul 22, 2003
Do you believe Federal financial regulations should prohibit fraud in the OTC derivatives market?
Paul S. Sarbanes
The Public Record
Paul S. Sarbanes is a former U.S. Senator from Maryland, serving from 1977 to 2007. A member of the Democratic Party, Sarbanes was known for his work on financial regulation and consumer protection. He played a significant role in the passage of the Sarbanes-Oxley Act in 2002, which aimed to enhance corporate governance and accountability in the wake of major financial scandals. Throughout his career, Sarbanes focused on issues such as education, healthcare, and the environment, advocating for policies that benefited Maryland residents and the broader American public.
congress.gov
Jul 22, 2003
You are their regulator. Do you think that this is an appropriate standard that they are being held to?
Jul 22, 2003
As I understand your answer here today, your position now is in support of FAS 133; is that correct?
Jul 22, 2003
So you are entertaining the prospect of changing the OFHEO rule with respect to the capital standards?
Jul 22, 2003
I see my time for this round has run out, and I will come back and revisit some other issues with you.
Jul 22, 2003
It is important to scrutinize Mr. Brickell's record closely as we address the question of who should be directing OFHEO and carrying out its importance regulatory mission.
Jul 22, 2003
The nominee, Mark C. Brickell, a former Managing Director at JP Morgan Securities, has a long track record of opposing Government regulation of financial services and leaving most of the work to market forces.
Jul 22, 2003
Well, that may be, but you were amongst those that were opposed to it; is that not the case?