Opening Statement, Witness Testimony and Webcast for the Hearing Titled: "Credit Rating Agencies and the Next Financial Crisis"
On Thursday, September 24, 2009 at 10:00 a.m. The Committee on Oversight and Government Reform will hold a hearing titled: “Credit Rating Agencies and the next Financial Crisis.” The hearing will examine what role inaccurate credit ratings played in the current financial crisis, and what regulatory changes need to be implemented to prevent a future collapse.
The witnesses scheduled to testify are:
Panel I
Mr. Joe Dear, Chief Investment Officer, California Public Employees Retirement System (CalPERS)
Mr. Ilya Eric Kolchinsky, Former Managing Director, Moody’s Investors Service
Panel II
Senator Alfonse M. D’Amato, Former Chairman, Senate Committee on Banking, Housing and Urban Affairs
Mr. Floyd Abrams, Partner, Cahill, Gordon & Reindel, LLP, On behalf of Standard and Poors
Professor Lawrence J. White, Leonard N. Stern School of Business, New York University