House Financial Services Hears Testimony on TARP
A group of eight CEOs faces grilling from the House Financial Services Committee today about their use of funds dispersed under the Troubled Asset Relief Program (TARP).
In the opening statements, Rep. Randy Neugebauer (R-Texas) set the tone for the anticipated questioning when he referred to the companies as TSEs — “taxpayer-supported entities” — rather than the phrase GSEs — government-sponsored enterprises — often used to describe Fannie Mae and Freddie Mac.
Following is the witness list for today’s hearing:
* Lloyd C. Blankfein, CEO and Chairman, Goldman Sachs & Co.
* James Dimon, CEO, JPMorgan Chase & Co.
* Robert P. Kelly, Chairman and CEO, Bank of New York Mellon
* Ken Lewis, Chairman and CEO, Bank of America
* Ronald E. Logue, Chairman and CEO, State Street Corporation
* John J. Mack, Chairman and CEO, Morgan Stanley
* Vikram Pandit, CEO, Citigroup
* John Stumpf, President and CEO, Wells Fargo & Co.
Among the witness institutions, JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo are involved in auto finance.
To watch the hearing live, click here.
