SBC Hearing on “Modernizing Bank Supervision and Regulation, Part II”

Here is video and statements from the Senate Banking Committee hearing on “Modernizing Bank Supervision and Regulation, Part II,” including yours truly.  My testimony starts around 0:50 in the webcast.

What was truly amazing to me was that both Dems and Repubs were seething angry against Uncle Ben, Geithner, et al.  Senator Bunning (R-KY) a former big league pitcher BTW, asked if I thought the Fed was an independent agency.  Not. And nobody pushed back when I suggested we take the Fed out of bank supervision entirely.  It is very clear to me that officials of the Fed and Treasury have not been forthcoming with information needed by the Committee.

Tuesday, March 24, 2009
10:00 AM – 01:00 PM
538 Dirksen Senate Office Building, room 538

[View Archive Webcast]

The testimony of the four witnesses is below, including:

Majority Statements

Minority Statements


Panel 1

  • Mr. William Attridge [view testimony]
    President, Chief Executive Officer and Chief Operating Officer
    Community River Community Bank, on behalf of the Independent Community Bankers of America
  • Mr. Daniel A. Mica [view testimony]
    President and Chief Executive Officer
    Credit Union National Association
  • Mr. Aubrey Patterson [view testimony]
    Chairman and Chief Executive Officer
    BancorpSouth, Inc., on behalf of the American Bankers Association
  • Mr. Richard Christopher Whalen [view testimony]
    Senior Vice President and Managing Director
    Institutional Risk Analytics
  • Ms. Gail Hillebrand [view testimony]
    Senior Attorney
    Consumers Union of U.S., Inc.
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