10TH DISTRICT, NEW YORK
NEWS RELEASE
| For Immediate Release | Contact: Ruth J. Morrison | ||
| September 23, 2005 | (202) 225-5936 | ||
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NYPD Commissioner Kelly Lead Witness at Congressional Hearing on Disaster Preparedness |
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New York-- September 23, 2005---NYPD Commissioner Raymond W. Kelly will be the lead witness at a Congressional Field Hearing in New York City conducted by Congressman Todd Platts (R-PA), Chair of the U.S. House of Representatives' Government Reform's Subcommittee on Government Management, Finance and Accountability and Congressman Ed Towns (D-NY), Ranking Member of the Government Reform's Subcommittee on GMFA. The field hearing, Financial Services Sector Preparedness in a Post 9/11 Environment, will be held on Monday, September 26, 2005, at 10:00 a.m. at Brooklyn Law School, 250 Joralemon Street, Dean Prince Moot Court, 7th Floor, Brooklyn, NY 11201. The terrorist attacks of September 11, 2001, and the destruction of the World Trade Center struck at the heart of the nation's financial sector. The rapid recovery of the financial infrastructure inspired confidence as the U.S. Treasury securities market opened just two days later, and the equities market was in full operation by September 17th. Still, Congress, the executive branch, and industry groups realized that financial firms would need new contingency plans and stress tests to protect against more extreme situations in the future. The Federal government in partnership with local governments and the private sector has responded to the need to continue to strengthen the resiliency of the nation's financial infrastructure through a variety of initiatives. Many of these post 9/11 improvements were tested during the massive power blackout in the northeastern United States and Canada on August 14, 2003. All indications after the blackout were that improvements put in place after September 11, 2001, helped mitigate the damage that could have resulted from the infrastructure shutdown and panic that the blackout caused. These results are encouraging. The purpose of this hearing is to examine the present status of financial market preparedness for wide-scale disasters or disruptions, including efforts aimed at prevention, detection, and response. The hearing will provide local, State, and Federal government officials and representatives from the private sector a chance to discuss accomplishments and identify areas where improvements and resources are still needed. "It is fitting that this hearing on the security of our domestic financial services sector and the many potential threats to its short and long-term continuity of operations be held here in the financial capital of the world,” said Congressman Ed Towns. "I welcome Congressman Platts to New York City and I also would like to thank the panelists both public and private for their participation in this much needed discussion.” Witnesses Panel One Mr. Raymond W. Kelly Panel Two Mr. D. Scott Parsons Mr. R. James Caverly Mr. Daniel A. Muccia Panel Three Ms. Catherine Allen Mr. Donald Donahue Mr. Samuel Gaer Mr. Steve Randich ### Ruth J. Morrison ### |