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Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises Hearing
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American International Group’s Impact on the Global Economy: Before, During, and After Federal Intervention
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March 18, 2009, 10:00 a.m., 2128 Rayburn House Office Building
Capital Markets
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Washington, DC – Congressman Paul E. Kanjorski (D-PA), Chairman of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, today announced that the Subcommittee will hold a hearing to fully examine the American International Group (AIG), how it got into its current situation, why it has received so much federal assistance, and how to move forward.
“The federal government has provided AIG with access to well over $150 billion in federal aid to protect the global economy,” said Chairman Kanjorski. “Unfortunately, taxpayers do not understand how AIG ended up in such a terrible situation, nor do they understand why the federal government continues to give it money. We must assess AIG’s progress, as well as how we move forward to ensure that any taxpayer money AIG receives is spent efficiently and effectively.”
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Witness List & Prepared Testimony:
Panel one
- Mr. Scott Polakoff, Acting Director, Office of Thrift Supervision
- The Honorable Joel Ario, Insurance Commissioner, Pennsylvania Insurance Department, on behalf of the National Association of Insurance Commissioners
- Ms. Orice M. Williams, Director, Financial Markets and Community Investment, Government Accountability Office
- Mr. Rodney Clark, Managing Director, Insurance Ratings, Standard & Poor’s
Panel two
Available Member Statements: Chairman Kanjorski, Congressman Carson, Congresswoman McCarthy, Congresswoman Jenkins, Congresswoman Bachmann
Printed Hearing: 111-15
Related Documents:
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