April 23, 2008

DODD TO HOLD HEARING ON FOREIGN GOVERNMENT INVESTMENTS IN UNITED STATES

WASHINGTON, DC – Senator Chris Dodd (D-CT), Chairman of the Senate Committee on Banking, Housing, and Urban Affairs, announced that tomorrow he will continue the series of hearings that he is holding on the turmoil in the U.S. credit markets, and ways to ensure stability and soundness in our economy. Tomorrow’s hearing will focus on the regulatory framework currently in place to evaluate a source of capital that some financial institutions have turned to in order to address their liquidity shortfalls – sovereign wealth funds.  In addition to holding the first Congressional hearing on sovereign wealth funds last year, the Banking Committee passed bipartisan legislation to reform procedures for assessing the national security implications of foreign investments in the United States.  This hearing will assess other regulations and authorities that apply to sovereign wealth funds when they invest in the United States.
 
WHO:             Chairman Chris Dodd
Members of the Senate Banking Committee
 
Panel One:      Mr. Scott G. Alvarez
                        General Counsel, Board of Governors of the Federal Reserve System
 
                        Mr. Ethiopis Tafara
Director, Office of International Affairs, U.S. Securities and Exchange Commission
 
Panel Two:     Mr. Paul Rose
                        Assistant Professor of Law, Moritz College of Law, Ohio State University
 
Mr. David Marchick
Managing Director and Global Head of Regulatory Affairs, The Carlyle Group
 
                        Ms. Jeanne S. Archibald
                        Partner, Hogan and Hartson LLP
 
Mr. Dennis Johnson
Director of Corporate Governance, California Public Employees’ Retirement System
 
WHERE:  SENATE BANKING COMMITTEE HEARING ROOM
       538 DIRKSEN SENATE OFFICE BUILDING
 
WHEN:  10 A.M. TOMORROW, THURSDAY, APRIL 24TH
 
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