Political Quotes

“Mr. President, I would like to announce for the information of the Senate and the public that the Permanent Subcommittee on Investigations of the Committee on Homeland Security and Governmental Affairs has scheduled a hearing entitled, ``Wall Street and the Financial Crisis: The Role of Bank Regulators.'' This hearing will be the second in a series of Subcommittee hearings examining some of the causes and consequences of the recent financial crisis. This second hearing will focus on the role of bank regulators in the financial crisis, using as a case history oversight efforts by the Office of Thrift Supervision (OTS) and the Federal Deposit Insurance Corporation (FDIC) with respect to Washington Mutual Bank and its affiliate, Long Beach Mortgage Company. Washington Mutual Bank, the nation's largest thrift with $300 billion in assets, $188 billion in deposits and 43,000 employees, was closed by OTS on September 25, 2008, and immediately sold by FDIC to JPMorgan Chase, resulting in the largest bank failure in U.S. history. The Subcommittee hearing has been scheduled for Friday, April 16, 2010, at 9:30 a.m., in Room 106 of the Dirksen Senate Office Building. For further information, please contact Elise Bean of the Permanent Subcommittee on Investigations at 202-224-9505. ____________________”