their very hectic and demanding and important schedules to be with us this morning. the hearing is entitled management and structural reforms at the sec, in progress report. this is a very critical hearing because we understand the important role of the sec in the regulations of our securities markets. we have had local concerns about regulation, overregulation, but it appears, indeed, the revenues and the securities industries, the last two years have been greater than any year in the previous ten. so the industry is, in fact, growing at a time when many other sectors in the american economy are in very serious distress. and i believe that those who want to starve the market watchdog or repeal recent legislation return to the days when costs and financial products were negotiated and traded. wall street
of management, corporate finance and economics since 1983 in his been on the back of the vendor bills as 1986. in addition to teaching he published research on volatility in stock, adequacy, a unease management, policy, executive compensation, disclosure, and behavior by equity analysts. your written testimony has already been submitted. i would ask that you take five minutes and make in all presentations. thank you. the director of a division of enforcement and thank you for the opportunity to testify today concern new management and structural reforms that the sec. when i arrived in the sec in early 2009 to lead the enforcement division the as is mr. going to come to terms with the impact of the financial crisis. our job and our challenge of the division of enforcement was to investigate and hold accountable those who contributed to the financial crisis. we took the challenge head-on. we immediately set to work investigating conduct that may have injured it to the financi
i am going to just go across as i indicated, starting with the woman who was the former female chief of staff. under which administration, ma am? you richwere chief of staff undr which administration? the clinton administration. go ahead. my testimony is based on my 23-year career, culminating during the clinton administration, and also drawing on the past eight years when i aboard with communities and nonprofits in disaster management. erautt the 1990 s, we were to respond and recover from over 300 presidential disasters. although we had many significant disasters, none of them became catastrophes. the scope could have made them to tass disease. for example, there was more infrastructure damage in an earthquake than there was during katrina the scope could have made them catastrophes. floyd could have been a catastrophe. because we build a strong partnership with state and local managers and that we have a federal response plan that was agreed to buy a federal agency
socialized medicine in government was taking over. now the senior citizens are very satisfied with medicare except for one exception. that is prescription drugs. they are still a doughnut hole. i will talk about that later. you could say why do not include everybody under medicare? the problem we have is the majority of people still get health care through private insurers and if all we did was take the uninsured and put them in medicare the cost would be so high that you cannot pay for it because medicare is a pretty expensive program. part of what you want to try to do is actually change how the delivery system in medicare works to make it a little bit more efficient. we want to squeeze out some of the ways. . . [applause] id may be that over time, what we look at is, who is eligible for medicare, and are there ways to weekend where we can include people who do not currently qualified? but right now, what we have proposed is, instead of using medicare as the model, use