Georgia Unfiltered

Search This Site

20 October 2008

Rep. David Scott Returns to Washington to Work on the Current Economic Crisis

Congressman David Scott will return to Washington to continue important work on the current financial crisis. Congressman Scott is a member of the House Financial Services Committee, which will hold hearings on financial regulation on Tuesday, October 21st.

"Our economic crisis is hurting average Americans," Congressman Scott said. "This is not the time for Congress to take time off from working on economic recovery. We need to roll up our sleeves and get to work on regulation of the financial markets and ensure that the economic recovery bill is implemented effectively. I will continue to fight for additional help for families struggling to stay in their homes and for small business viability."

The Financial Services Committee will hold a hearing to address the need for broad regulatory restructuring and reform for the financial markets, including financial institution oversight and regulation, systemic risk, and housing finance. This hearing will focus on the extent to which an outdated and weak regulatory system contributed to the current market turmoil and whether adoption of a stronger and more robust financial regulatory system could contribute to a more rapid recovery in the financial markets and the economy.