New Government Report: Lehman Brothers Examiner’s Report: Congressional Testimony (ISBN: 9781437933666)

Lehman Brothers Examiner’s Report: Congressional Testimony (ISBN: 9781437933666)
By Mary L. Schapiro
(Paperback, 14 pages, 2010, $10.00)

When Mary Schapiro became Chairman of the Securities and Exchange Commission (SEC) in January 2009, the agency and financial markets were still reeling from the events of the fall of 2008.

Since that time, the SEC has worked to review its policies, improve its operations and address the legal and regulatory gaps that came to light during the crisis. The Lehman failure sheds light on many interconnected and mutually reinforcing causes that contributed to the failure of many major financial institutions, both bank and non-bank.

This testimony describes the SEC structure for the supervision of investment banks and their holding companies, the failure of Lehman, the lessons learned from the Consolidated Supervised Entity program, and the legislative and regulatory initiatives that are necessary.

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