Today the Financial Services Committee held and oversight hearing on the implementation of the Emergency Economic Stabilization Act of 2008. Committee Members questioned Treasury Secretary Paulson, Federal Reserve Chairman Bernanke, and FDIC Chairwoman Bair about the implementation of the TARP … Continue reading
Speaker Pelosi announced today the new Majority Leadership team for the 111th Congress, elected today by members of the Democratic Caucus: Speaker of the House: Nancy Pelosi of California Majority Leader: Steny Hoyer of Maryland Majority Whip: James E. Clyburn … Continue reading
This morning, the Financial Services Committee is holding a hearing on the “Oversight of Implementation of the Emergency Economic Stabilization Act of 2008 and of Government Lending and Insurance Facilities; Impact on Economy and Credit Availability.” Read prepared testimony: Panel … Continue reading
From the House Financial Services Committee: House Auto Legislation Will Protect American Jobs While Demanding Long-Term Restructuring of Auto Industry for Viability and Energy Independence Washington, D.C. — Led by House Financial Services Committee Chairman Barney Frank, House Democratic leaders … Continue reading
Speaker Pelosi issued the following statement this afternoon following a meeting late this afternoon that House Democratic leaders held with Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke: House Democratic leaders today made it clear to Secretary Paulson … Continue reading
As Congress prepares to address the economic crisis facing the domestic automobile industry, Speaker Pelosi released the following statement today concerning legislation under development by House Democrats: Recognizing the severe challenges facing the domestic automobile industry, whose failure could jeopardize … Continue reading
This afternoon the Bush Administration proposed that the automobile industry be given “quick access to a $25 billion federal loan program, by dropping a requirement that the money be spent on converting to fuel-efficient vehicles.” Speaker Pelosi released the following … Continue reading
Speaker Pelosi and Senate Leader Reid announced today the appointment of three members to the Congressional Oversight Panel, which will review and report to Congress on the current state of the financial markets and the regulatory system: The panel is … Continue reading
Today, the Oversight Committee is holding a hearing on foreclosure prevention: Congress established the $700 billion Troubled Asset Relief Program on October 3, 2008 to deal with the financial crisis. One of TARP's core functions was to prevent future foreclosures … Continue reading
America's working families are facing worsening economic conditions. The number of homeowners receiving foreclosure notices increased 25 percent from a year ago and the number of newly laid-off Americans filing for jobless benefits is at a seven-year high. In these … Continue reading