Guilty to insider trading a decade ago. Were you aware of this before entering into a contract with him . I was not personally but as a company we were aware of it. Were you aware of all the other Credit Swab contracts he had, the lack of your specification on the contracts and the over leveraging . No, there was no Clarity Or Transparency around his positions across the strait. Given a lack of transparency would you support an Sec Rule for disclosure of significant economic interests regardless of the form it might take . For adequate disclosure, i know chairman gains are is going to be looking at this. I certainly would work with him on it. Is it a yes . Im not clearly answer. Clearly the lack of disclosure here hurt, fortunately did not hurt taxpayers or investors. It heard mr. Wayne and his family office. It heard the banks. Generally yes i think its something that should be figured out. The largest banks are earning more and more profits than ever before. But making fewer and fewe
The gentleman from New York mr. Torres is now recognized for five minutes. Thank you, Madam Chair. I have a question for the ceo of remorgan stanley. How much did you sustain and losses from the collapse of [inaudible] . 911 million. And the head of [inaudible] pleaded guilty to Insider Trading about a decade ago. You greedy were you [inaudible] i was not personally but as a company we were aware that. Were you aware of all the other credits of contracts he had entered into and the lack of diversification in those contracts and the extent of his over leveraging . No, there was not Clarity And Transparency around his position. Given the lack of Transparency And Clarity surrounding the Credit Risk would you support an sec would require disclosure of a significant economic interest and a company regardless of the form that interest might take. It is in everyones best interest for adequate exposure. I know chairman Gaines Letter will be looking at this and i certainly would work him14 with
Inadvertent background noise. Members are also reminded that they may only participate in one remote proceeding at a time. If youre participating today, please keep your camera on, and if you choose to attend a different remote proceeding, please turn your camera off. Additionally, i want to announce that for this hearing, it is my intention to recess the committee for five minutes every two hours. Lastly, before we begin, id like to take a moment to recognize congresswoman items who is celebrating her 75th birthday today. Happy birthday, congresswoman adams. Thank you, maxine. Happy birthday. Thank you so much. Thank you. I now recognize myself for four minutes to give an opening statement. Good afternoon, everyone. Today, this committee convenes for a hearing entitled, holding mega banks accountable, an update on banking practices, programs, and policies. And of course you know, testifying before the Committee Today, we will have the ceos of Jpmorgan Chase, Citi Group, morgan stanley
Remotely. Committee members will attend the meeting and participate in the meeting as if they were physically present. Public comment will be available. Comments are offered to speak during public Comment Period by calling 415 6550001. The Meeting Id is 187 733 9419. Then Press Pound and pound again. When connected, you will hear the meeting discussions but be in listening mode only. When your item of interest comes up, best practices are to call from a quiet location, speak clearly and slowly and turn down your television or radio. You can also submit public comment to me. If you submit public comment by email, it will be forwarded to the supervisors and will be included as part of the official agenda. That includes my initial comments. Supervisor peskin thank you, can you please call the next item . Clerk yes. Item number one is concerning two members april 27th, 2023, to the Sunshine Ordinance Task force. Supervisor peskin okay. Colleagues, we have gotten this one on time as both of
April 19th, 21. Im joined by Supervisor Ahsha Safai and Supervisor Chan. Clerk members will be participating in the meeting remotely. Committee members will attend the meeting and participate in the meeting as if they were physically present. Public comment will be available. Comments are offered to speak during public Comment Period by calling 415 6550001. The Meeting Id is 187 733 9419. Then Press Pound and pound again. When connected, you will hear the meeting discussions but be in listening mode only. When your item of interest comes up, best practices are to call from a quiet location, speak clearly and slowly and turn down your television or radio. You can also submit public comment to me. If you submit public comment by email, it will be forwarded to the supervisors and will be included as part of the official agenda. That includes my initial comments. Supervisor peskin thank you, can you please call the next item . Clerk yes. Item number one is concerning two members april 27th