Washington, DC - Congressman Maurice Hinchey (D-NY) will personally question Federal Reserve Chairman Ben Bernanke, TOMORROW, Wednesday, September 24, 2008 at 10:00am, at a Joint Economic Committee (JEC) hearing in Room 106 of the Dirksen Senate Office Building in Washington, DC that will focus on the Bush administration's proposal for a $700 billion bailout for Wall Street with no new regulations or protections for American taxpayers.  Hinchey is one of just 10 House members on the influential JEC.  The hearing will be broadcast online at www.jec.senate.gov.

"As the U.S. confronts the most serious financial crisis since the Great Depression, this hearing will enable those of us on the Joint Economic Committee to aggressively question Federal Reserve Chairman Bernanke on how we can restore stability to the financial markets without burdening the American people with $700 billion in new debt," Hinchey said. "The Bush administration went from claiming that the fundamentals of the economy were strong to just days later saying that Congress had to approve a $700 billion bailout to prevent an immediate economic meltdown.  This administration has proven itself to be inept and untrustworthy, which is why this Congress must not sign off on a poorly thought out proposal that does nothing to restore important regulations that would safeguard the working and middle class from suffering again at the hands of corporate greed."

The JEC was established by the Employment Act of 1946 with the main purpose of conducting a continuing study of matters relating to the U.S. economy.  The panel is composed of ten senators and ten House members, including 12 Republicans and eight Democrats.  The Committee holds hearings, performs research, and advises other Members of Congress on the economy.