Chairman Christopher Cox
U.S. Securities and Exchange Commission
Before the U.S. Senate Committee on Banking, Housing and Urban Affairs
Chairman Dodd, Senator Shelby, and Members of the Committee:
Thank you for this opportunity to describe the SEC's actions to deal with the recent developments in our financial markets.
Since the credit market crisis began with the deterioration of mortgage origination standards and a contagion of abusive lending practices, and then spread to the capital markets through securitization, the SEC has used its law enforcement and regulatory powers to contribute to orderly and liquid markets. We have acted in three main areas:
See full Testimony.
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