Obi-Wan Kenobi
/ 178.36.12.* / 2010-04-27 10:22
Kanjorski To Hold Hearing On Implications Of Greek Debt Crisis - More Pain For Goldman
At this hearing, we will examine important policy questions that have arisen from the Greek debt crisis,” said Chairman Kanjorski. “Going forward, there could be important implications for the issuance of all government debt, especially when bankers act as casino operators by first helping governments to issue bonds and then facilitating bets against the failure of that debt. Some, particularly in Europe, have additionally raised questions about the accuracy of disclosures of government indebtedness and the transparency of credit default swaps on these obligations. This regrettable situation could also ultimately lead to real repercussions for the European Union and the global economy. I look forward to exploring each of these matters at this hearing. Congress, moreover, has pending legislation aimed at better regulating derivatives, including credit default swaps. As we work to finalize the Wall Street reform bill, this hearing will help us to determine whether we should do even more to shine a light on this dark corner of our financial markets.”