Senators to Question Regulatory Officials about Dodd-Frank Implementation Status (with Lofchie Comment)

A Senate panel is scheduled to question CFTC Chairman Gary Gensler and SEC Chair Mary Jo White about the status of Dodd-Frank's implementation as it moves into its third year.The CFTC and SEC officials will appear before the Senate Banking, Housing, and Urban Affairs Committee to discuss topics such as derivatives and the Volcker Rule. The hearing, "Mitigating Systemic Risk in Financial Markets through Wall Street Reforms," is set for Tuesday, July 30, 2013.

Lofchie Comment: One of the things that I have learned from watching the Dodd-Frank hearings is that the process would work much better if experts could grill the regulators while the Senators observed. That way, there would be at least some chance of eliciting real information. As the system currently works, the Senators just don't have enough information to follow up on a line of questions if they receive a complicated answer. Or perhaps the Senators should be given an opportunity to "phone a friend" for a question as is done on game shows like "Who Wants to Be a Millionaire."

See: Senate Committee Hearing Announcement.