Committee InfoDescriptionHello Representatives and welcome to the Banking Committee, shortened for the Senate Banking, Housing, and Urban Affairs Committee. This committee’s areas of jurisdictions include banking, insurance, financial markets, securities, housing, urban development and mass transit, international trade and finance, and economic policy. Formally established in 1913, this committee plays an integral role in managing legislation that affects the lives of many Americans.Recently, the Banking Committee approved the nomination of Ben Bernanke to continue as Chairman of the Board of Governors of the Federal Reserve System (the Fed) on a vote of 16 to 7. The nomination will now be sent to the full Senate for consideration. Critics claim that leading up to the financial crisis, the Fed failed in its oversight and consumer protection responsibilities, allowing some of the largest holding companies to engage in very dangerous risk-taking and allowing much of the damage caused by those actions to fall on ordinary Americans. This was reflected in lost jobs, lost homes, lost retirement, and a lost sense of hope across America. This has questioned Bernake’s efficacy as Chairman of the Fed. However, the Banking Committee approved his nomination for a second term because “I believe that Chairman Bernanke must also receive credit for the critical role he played in the events of last fall,” says Christopher Dodd (D-CT). “While the judgment of many is still out on that, I happen to believe that had he and others not acted at a time of critical importance to our country we would be looking at a far more dire situation than is the case.” Since 2007, when the 110th Congress began, the Committee has been led by Chairman Christopher J. Dodd (D-CT) and Ranking Member Richard C. Shelby (R-AL). The Committee is currently made up of 23 Senators; 13 Democrat, and 10 Republican. Milestones of recent history for the committee include the passage of the 2001 passage of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, ("USA PATRIOT Act"), which contains strong measures to prevent, detect, and prosecute terrorism and international money laundering. Additionally, the passage of the Sarbanes-Oxley Act of 2002 includes far-reaching changes in federal securities regulation that could represent the most significant overhaul since the enactment of the Securities Exchange Act of 1934. Today, the committee’s key issue is the Restoring America’s Financial Stability Act, which aims to create a sound economic foundation to grow jobs, protect consumers, rein in Wall Street, end Too Big to Fail, and prevent another financial crisis. If you are still interested in learning more about the Senate Banking, Housing, and Urban Affairs Committee, view their website at http://banking.senate.gov/public/ ---------------------- Ashley Miller: Hey! My name is Ashley Miller, and I'm your chair for the Red Senate Banking, Housing, and Urban Affairs Committee. I'm currently a Sophomore in the College at Penn, double-majoring in History and Urban Studies. I'm from Boca Raton, FL. Aside from Model Congress, other activities I'm involved in include the University Honor Council, Kite and Key Society, the John Marshall Pre-Law Society, and my sorority, Alpha Chi Omega. If you have any questions, need help with your bill, or just want to chat, please email me at Afmiller@sas.upenn.edu. I'm looking forward to meeting you all soon! Emma Johnson: Hi! My name is Emma Johnson and I am a freshman in the College of Arts and Sciences. I am pre-med and hoping to major in PPE (Philosophy, Politics and Economics). I have no previous model congress experience, but I founded the model un club at my high school and am actively involved in it here at Penn. I’m from beautiful Philadelphia and went to Germantown Friends School. Here at Penn I work for the PennFund, am involved with the Special Planning and Events Committee, the International Affairs Association, Penn Vegetarian Society, have a radio show with WQHS and am involved in theater. Please feel free to contact me with questions, comments or even just to say hi! My e-mail address is emjoh@sas.upenn.edu. Can’t wait to meet and work with all of you, see you soon! Chairs
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Account LoginConference DatesMarch 31 - April 3, 2011 RegistrationRegistration is now closed. InformationClick here for more details about PENNMC 2011! Check us out on Facebook!
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