Mr. Chairman, I am personally delighted to take this opportunity to highly recommend John Hawke, Jr., or Jerry Hawke, as he is known, for the position of Comptroller of the Currency.
I cannot think of another individual who is better qualified to assume the responsibilities of one of the most sensitive positions in our nation's financial regulatory framework. A graduate of Yale University with a degree in English, Jerry moved on to the Columbia University School of Law where he was Editor-in-Chief of the Columbia Law Review. After his graduation in 1960, he was a law clerk for Judge E. Barrett Prettyman on the United States Court of Appeals for the District of Columbia Circuit. He honed his political skills as counsel to the Select Subcommittee on Education in the House of Representatives from 1961 to 1962.
Jerry joined the law firm of Arnold and Porter in 1962 and soon thereafter rose to head the Financial Institutions practice. From 1987 to 1995 he served as Chairman of the firm. In 1995 he left the firm to serve as General Counsel to the Board of Governors of the Federal Reserve System. He rejoined Arnold and Porter in 1987.
During this period, Jerry shared his considerable knowledge of banking law. He was an adjunct professor of law at the Georgetown University Law Center where he taught federal regulation of banking. He has also taught banking law at the Columbia
University School of Law and at the Boston University School of Law, where he currently serves as Chairman of the Board of Advisors of the Morin Center for Banking Law Studies.
With this most distinguished background, Jerry Hawke assumed the duties of Under Secretary of the Treasury for Domestic Finance on June 14, 1995. As we all know so well, in this position Jerry is responsible for the development of financial institution policy while overseeing the Administration's role in the management of Treasury securities, public debt management, capital markets, government financial management services, federal lending and government sponsored enterprises.
As influential as Jerry has been as Treasury Under Secretary, the Office of Comptroller of the Currency affords Jerry the opportunity to focus his considerable talents on the issues specifically affecting our nation's national banks. Certainly, there is not better time for a strong Comptroller. We are on the threshold of a new chapter in our nation's banking history; a time when change will come quickly and decisively. We will need a steady hand to steer and direct the development of the national bank charter. We will need an individual with a keen sense about the historic role of the Comptroller of the Currency. Moreover, we will need someone who knows the banking business and has a clear vision of what the future may bring for our financial community.
Mr. Chairman, I sincerely believe that person is Jerry Hawke.
I have known Jerry Hawke for many years and, along with you and the Members of this Committee, have worked closely with him over the past three years on the development of federal banking policy. We now have an opportunity to continue this important professional relationship with an individual we can trust with important regulatory responsibilities.
Mr. Chairman, I sincerely recommend John D. Hawke, Jr. for the position of Comptroller of the
Currency and urge this Committee to recommend him to the Senate for confirmation as soon as
possible.
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