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Washington, DC - Congressman Paul E. Kanjorski (D-PA), Chairman of the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, announced that the Subcommittee hearing on the state of the bond insurance industry, originally scheduled to begin at 10 a.m. on Thursday, February 14, 2008 in room 2128 Rayburn House Office Building, will now begin at 11:30 a.m. This time change is due to the memorial service for the late Representative Tom Lantos. Chairman Kanjorski also named the witnesses who will testify at the hearing.
This hearing will examine the bond insurance industry, focusing on its strength, the resulting implications for the financial marketplace and municipalities of ratings downgrades, and the potential need for regulatory reforms.
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WHO: House Financial Services Committee, Subcommittee on Capital Markets,
Insurance, and Government Sponsored Enterprises
WHAT: Hearing entitled “The State of the Bond Insurance Industry”
WHEN: Thursday, February 14, 2008
11:30 a.m. (revised starting time)
WHERE: 2128 Rayburn House Office Building
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Invited witnesses will include:
Panel 1
- The Honorable Eliot Spitzer, Governor of New York
Panel 2
- The Honorable Eric R. Dinallo, Superintendent of the New York State Insurance Department
- Mr. Erik R. Sirri, Director, Division of Trading and Markets, U.S. Securities and Exchange Commission
- Mr. Patrick M. Parkinson, Deputy Director, Division of Research and Statistics, Board of Governors, Federal Reserve System
- The Honorable Thomas M. Leighton, Mayor, Wilkes-Barre, Pennsylvania
Panel 3
- Mr. William A. Ackman, Managing Member, Pershing Square Capital Management, L.P.
- Mr. Keith M. Buckley, Group Managing Director and Global Head of Insurance, Fitch Ratings
- Mr. Richard P. Larkin, Senior Vice President, Herbert J. Sims & Co., Inc.
- Mr. Michael Callen, President and Chief Executive Officer, Ambac Financial Group Inc.
- Mr. Charles Chaplin, Chief Financial Officer, MBIA Inc.
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