107 2 Hearing Oversight Of Investment Banks Response To The Lessons Of Enron Vol 1 S Hrg 107 871 December 11 2002

Witnesses: Charles Prince III, Citigroup Global Corp. and Investment Bank; David Bushnell, Global Risk Mgt., Citigroup/Salomon Smith Barney; Richard Caplan, Credit Derivatives Group, Salomon Smith Barney N. Amer. Credit; William Fox III, Global Power and Energy Group, Citibank; Michael Patterson, J.P. Morgan Chase and Co.; Robert Traband, J.P. Morgan Chase and Co., accomp. by Eric Peiffer, J.P. Morgan Chase and Co.: Andrew Feldstein, Structured Prod. and Derivatives Marketing, J.P. Morgan Chase and Co.; Muriel Siebert, Muriel Siebert and Co., Inc.; Richard Spillenkothen, The Federal Reserve; Douglas Roeder, Sr. Office of the Comptroller of the Currency; and Annette Nazareth, SEC. Numerous charts and tables.

Expert contributors examine the recent actions of the Federal Reserve and suggest directions for the Fed going forward by drawing on past political, historical, and market principles. They explain how the Fed arrived at its current position, offer ideas on how to exit the situation, and propose new market-based reforms that can help keep the Fed on the road to good monetary policy in the future.