On the recordJune 8, 2009
Clearly, Congress must prevent future activities from endangering our financial system, similar to what we witnessed with AIG, Bear Stearns, and Lehman Brothers last year.
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congress.govClearly, Congress must prevent future activities from endangering our financial system, similar to what we witnessed with AIG, Bear Stearns, and Lehman Brothers last year.
Kanjorski emphasizes the need for Congress to safeguard the financial system.
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But I am curious, should we not now take the opportunity to reform some of the structure of government, particularly by merging the CFTC and the SEC?
Could we knock those words out of our vocabulary? It is going to happen again regardless of what we do.
In short, the time for common-sense regulation of this vast industry has arrived.
Their testimony was quite clear that it was their opinion that the failure of any one of them, and particularly Chrysler, would cause systemic risk if they were allowed to fail.