US House bill checks financial crisis

Source: Internet
Author: User
The U.S. House of Representatives passed a bill of 338 votes to 52 to establish an independent commission to investigate the causes of the financial crisis, 18th.  As the Senate of the United States has earlier approved the bill, the bill will be sent to U.S. President Barack Obama for entry into force after the House approves.  Under the bill, the Independent commission will be a bipartisan committee of the Commission on "the events", consisting of 10 people with extensive experience in banking, market regulation, taxation, finance, the economy and housing. The Commission will conduct extensive investigations into the role of U.S. regulators and the Federal Reserve Board, as well as corporate accounting practices, executive pay arrangements and the use of new investment vehicles. Possible fraud, the role of credit risk rating agencies and market short-selling are also under investigation.  The Commission will also investigate so-called "global savings imbalances" and a series of financial rescue measures taken by the US government. It was reported that the Committee would hold public hearings and be empowered to request witnesses who were unwilling to testify. The Commission will investigate the causes of the current crisis over the next 18 months and make recommendations to prevent the recurrence of the crisis.

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