congress watch

(to be renamed when i think of something)

Hearing List for Wednesday, February 4, 2009

February 4th, 2009 by selise

On today’s schedule is Paul Volcker at Senate Banking and Eric Shinseki at House Veterans’ Affairs. Harry Markopolos, the Madoff Ponzi Scheme whistleblower, is scheduled to testify before the House Financial Services committee and will be followed by some of the regulators who ignored his many warnings. At the House Agricultural committee a second big day of testimony on proposed regulation for financial derivatives. Michael Masters will be one to watch there. More hearings and links, etc below (or see this week’s complete list).

Live streaming is expected at committee websites (see links below) and CSPAN (schedule). Direct realplayer links are: CSPAN, CSPAN-2, CSPAN-3, CSPAN Radio.

9:30 am – House Financial Services
The Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises will hold a hearing entitled: "Assessing the Madoff Ponzi Scheme and Regulatory Failures".

Witnesses
Panel 1:

  • Mr. Harry Markopolos, an independent financial fraud investigator for institutional investors and others seeking forensic accounting expertise, as well as a Chartered Financial Analyst and Certified Fraud Examiner

Panel 2:

  • Ms. Linda Thomsen, Director, Division of Enforcement, U.S. Securities and Exchange Commission
  • Mr. Andrew J. Donohue, Director, Division of Investor Management, U.S. Securities and Exchange Commission
  • Mr. Erik Sirri, Director, Division of Trading and Markets, U.S. Securities and Exchange Commission
  • Mr. Andy Vollmer, Acting General Counsel, U.S. Securities and Exchange Commission
  • Ms. Lori A. Richards, Director, Office of Compliance Inspections and Examinations, U.S. Securities and Exchange Commission
  • Mr. Stephen Luparello, Interim Chief Executive Officer, Financial Industry Regulatory Authority

From CalculatedRisk: "Harry Markopolos will testify before Congress tomorrow regarding his many attempts to get the SEC to investigage Madoff." More at the link, including link to prepared testimony. h/t prostratedragon.

UPDATE: for dialup readers, i’ve posted a rough text file of markopolos’s statement (about 500KB via ocr) at the week’s list.

10 am – House Budget
Hearing on Long-term Sustainability of Current Defense Plans

Witnesses:

  • Stephen Daggett, Specialist in Defense Policy and Budgets, Congressional Research Service
  • J. Michael Gilmore, Assistant Director for National Security, Congressional Budget Office

10 am – House Appropriations
Military Construction and Veterans Affairs Subc. On military quality of life.

10 am – House Transportation and Infrastructure
Water Resources and Environment Subc. On approaches to sustainable infrastructure in wastewater treatment facilities.

10 am – House Small Business
Health Care Reform in a Struggling Economy: What is on the Horizon for Small Business?
The Committee will hear testimony from entrepreneurs and insurance providers to examine the challenges small businesses face in today’s economy to offer health care coverage and to discuss the role and impact of health reform on small firms.

10 am – House Energy Independence and Global Warming
Briefing and hearing on "Roadmap from Poznan to Copenhagen – Preconditions for Success"

Witnesses:

  • John Bruton, Delegation of the European Commission and Ambassador to the U.S
  • Elliot Diringer, Vice President of International Strategies at the Pew Center on Global Climate Change
  • Rob Bradley, Director of the International Climate Policy Initiative at the World Resources Institute
  • Karen Alderman Harbert, President and CEO, Institute for 21st Century Energy

10 am – House Veterans’ Affairs
The State of the U.S. Department of Veterans Affairs

Witness:

  • The Honorable Eric K. Shinseki, Secretary, U.S. Department of Veterans Affairs

10:30 am – House Agriculture
Hearing on reviewing derivatives legislation. (transcript)

Witnesses
Panel 1:

  • Mr. Michael Masters, Partnership Financial Consulting, LLC, Atlanta, Georgia
  • Mr. Johnathan Short, Vice President and General Counsel, IntercontinentalExchange, Inc., Atlanta, Georgia
  • Mr. Gary W. Taylor, President, Cargill Cotton, on behalf of The National Cotton Council, American Cotton Shippers Association, and AMCOT, Cordova, Tennessee
  • Mr. Robert Pickel, Chief Executive Officer, International Swaps & Derivatives Association, New York, New York
  • The Honorable Joseph D. Morelle, Chair, New York State Assembly Standing Committee on Insurance, on behalf of
    National Conference of Insurance Legislators (NCOIL), Troy, New York

Panel 2:

  • Mr. Chris Concannon. Executive Vice President, NASDAQ OMX, New York, New York
  • Mr. Bill Hale, Senior Vice President, Grain and Oilseed Supply Chain, on behalf of Cargill, Incorporated, Wayzata, Minnesota
  • Mr. Karl D. Cooper, Chief Regulatory Officer, NYSE Liffe, LLC, on behalf of NYSE Euronext, New York, New York
  • Mr. Paul N. Cicio, President, Industrial Energy Consumers of America, Washington, D.C.
  • Mr. Mark C. Brickell, Chief Executive Officer, Blackbird Holdings, Inc., New York, New York

Panel 3:

  • Mr. Thomas Book, Member of the Executive Board, on behalf of Eurex Deutschland and Eurex Clearing AG, Frankfurt, Germany
  • Mr. Stuart Kaswell, General Counsel, Managed Funds Association, Washington, D.C.
  • Mr. Edward J. Rosen, Cleary Gottlieb Steen & Hamilton LLP, on behalf of Securities Industry and Financial Markets Association, New York, New York
  • Mr. Brent M. Weisenborn, Chief Executive Officer, Agora-X, LLC, Parkville, Missouri
  • Mr. Donald P. Fewer, Senior Managing Director, Standard Credit Group, LLC, New York, New York

11 am – House Foreign Affairs
U.S. Policy Toward Latin America in 2009 and Beyond

Witnesses:

  • Mr. Sergio Bendixen, President, Bendixen & Associates
  • Cynthia McClintock, Ph.D., Professor of Political Science and International Affairs, Director, Latin America and Hemispheric Studies Program, The George Washington University
  • Mr. Eric Farnsworth, Vice President, Council of the Americas
  • Ray Walser, Ph.D., Senior Policy Analyst for Latin America, Douglas and Sarah Allison Center for Foreign Policy Studies, The Heritage Foundation

11 am – House Judiciary
Hearing on: Midnight Rulemaking: Shedding Some Light

Witnesses
Panel 1:

  • Hon. Jerrold Nadler, U.S. House of Representatives, 8th District, NY

Panel 2:

  • Gary Bass, Executive Director, OMB Watch
  • Robert F. Kennedy, Jr., Chairman, Waterkeeper Alliance
  • Lynn Rhinehart, Associate General Counsel, AFL-CIO
  • Veronique de Rugy, Ph.D., Senior Research Fellow, Mercatus Center at George Mason University
  • Michael Abramowicz, George Washington University Law School
  • Curtis Copeland, Ph.D., Specialist in American National Government – Government and Finance Division, Congressional Research Service

2 pm – House Financial Services
Markup hearing on "H.R. 786, to make permanent the temporary increase in deposit insurance coverage, H.R. 787, to make improvements in the Hope for Homeowners Program, H.R. 788, to provide a safe harbor for mortgage servicers who engage in specified mortgage loan modifications, and for other purposes".

2 pm – House Transportation and Infrastructure
International Piracy on the High Seas

2 pm – Senate Foreign Relations
To receive a closed briefing on North Korea.

2:30 pm – House Armed Services
Hearing on Army and Marine Corps force protection programs.

Witnesses:

  • Major General Robert P. Lennox, USA, Assistant Deputy Chief of Staff, G-3/5/7, U.S. Army
  • Brigadier General Peter N. Fuller, USA, Program Executive Officer, Soldier, Commanding General, Soldier Systems Center, U.S. Army
  • Mr. Kevin M. Fahey, Program Executive Office, Combat Support & Combat Service Support, U.S. Army
  • Brigadier General Michael Brogan, USMC, Commander, Marine Corps Systems Command, Program Executive Officer, MRAP Joint Program Office, U.S. Marine Corps

3 pm – Senate Banking, Housing, and Urban Affairs
Hearings to examine the United States financial regulatory system.

Witnesses:

  • Honorable Paul A. Volcker , Chair of the President?s Economic Recovery Advisory Board, Former Chairman, Board of Governors of the Federal Reserve System
  • Mr. Gene L. Dodaro , Acting Comptroller General, United States Government Accountability Office

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