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Article: REPS. FRANK, BACHUS, KANJORSKI ANNOUNCE SEPTEMBER HEARING ON AUCTION RATE SECURITIES

Article from:
US Fed News Service, Including US State News
Article date:
July 31, 2008
Copyright

The House Financial Services Committee issued the following news release:

House Financial Services Committee Chairman Barney Frank (D-MA), along with Ranking Member Spencer Bachus and Capital Markets Subcommittee Chairman Paul E. Kanjorski today announced the Committee on Financial Services will hold a hearing in September to examine the continuing crisis in the markets for auction rate bonds and auction rate preferred securities.

To date, thousands of investors, student lenders and municipal bond issuers face a financial hardship as a result of the breakdown of the auction market six months ago. While industry has worked closely with regulators to find solutions with some success since ...

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