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House Subcommittee Defends Asset-Backed Securities 

March 6, 2014
Robert Feinberg, MoneyNews

Twice last week the House Financial Services Committee's Subcommittee on Capital Markets and Government Sponsored Enterprises, chaired by Scott Garrett, R-N.J., jumped headlong into some very complex capital markets issues.

On Feb. 26, the Subcommittee held a hearing titled "The Dodd-Frank Act's Impact on Asset-Backed Securities." Then, on Feb. 28, the Subcommittee took on "Equity Market Structure: A review of the SEC's Regulation NMS," which will be the subject of a separate article.

The panels were dominated by industry witnesses complaining that implementation of the Dodd-Frank Act is hurting the economy, as the Committee continues to develop the theme that the Act should not be implemented, and virtually all affected parties should be exempt.

Read more: MoneyNews

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