Location: Room 106, Dirksen Senate Office Building
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Senator Carl Levin D (MI)Download Statement (55k)
The Permanent Subcommittee on Investigations hearing, "Wall Street and the Financial Crisis: The Role of Bank Regulators," was the second in a series of Subcommittee hearings examining some of the causes and consequences of the recent financial crisis. The second hearing focused on the role of bank regulators in the financial crisis, using as a case history oversight efforts by the Office of Thrift Supervision (OTS) and the Federal Deposit Insurance Corporation (FDIC) with respect to Washington Mutual Bank and its affiliate, Long Beach Mortgage Company. Washington Mutual Bank, the nation’s largest thrift with $300 billion in assets, $188 billion in deposits and 43,000 employees, was closed by OTS on September 25, 2008, and immediately sold by FDIC to JPMorgan Chase, resulting in the largest bank failure in U.S. history.
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THE HONORABLE ERIC THORSONDownload Testimony (110k)Inspector GeneralU.S. Department of the TreasuryWashington, DC
THE HONORABLE JON T. RYMERDownload Testimony (601k)Inspector GeneralFederal Deposit Insurance CorporationWashington, DC
MR. JOHN REICHDownload Testimony (38k)Former DirectorOffice of Thrift SupervisionAlexandria, VA
MR. DARREL DOCHOWDownload Testimony (32k)Former West Regional DirectorOffice of Thrift SupervisionIssaquah, WA
MR. LAWRENCE CARTERDownload Testimony (274k)Former Examiner-in-Charge (2004-2006), Current National ExaminerOffice of Thrift SupervisionWashington, DC
MR. JOHN CORSTONDownload Testimony (430k)Acting Deputy Director, Large Institutions and Analysis BranchFederal Deposit Insurance CorporationWashington, DC
MR. J. GEORGE DOERRDownload Testimony (428k)Deputy Regional Director, Division of Supervision and Consumer ProtectionFederal Deposit Insurance CorporationSan Francisco, CA