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Transcript: FINANCIAL REGULATORY OVERHAUL:JOHN C. DUGAN
- Article from:
- Congressional Testimony
- Article date:
- September 23, 2009
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Congressional Testimony
09-23-2009
Statement of John C. Dugan Comptroller Office of the Comptroller of the
Currency Committee on House Financial Services July 23, 2009 Chairman Frank,
Ranking Member Bachus, and Members of the Committee, I appreciate this
opportunity to discuss the Administration`s Proposal for reforming and
restructuring the regulation of financial services in the United States.1
The events of the last two years - including the unprecedented distress
and failure of financial firms, the accumulation of toxic subprime assets
in our financial system, and the steep rise in foreclosures - have exposed
gaps and weaknesses in our regulatory framework. The Proposal put forward
by the ...