U.S. Senator Blanche Lincoln, D-Ark., Chairman of the U.S. Senate Committee on Agriculture, Nutrition and Forestry, today reaffirmed that the Committee will produce a bipartisan over-the-counter derivatives bill that will provide greater oversight and transparency to the nation’s financial markets. Lincoln’s comments came before the Committee’s second hearing on financial market regulation reform in the span of two weeks. Secretary of the Treasury Timothy Geithner testified on behalf of the Administration.
“The Senate Agriculture Committee will move forward swiftly and responsibly to produce bipartisan legislation that will strengthen our nation’s financial systems,” said Lincoln. “This is a top priority for the Committee because there is an urgency to act—the American people need and deserve financial market regulatory reform in order to restore confidence to consumers and businesses in Arkansas and across the country. Our Committee will do its part to ensure that this country has the most open, honest and efficient markets in the world.”
The Senate Agriculture Committee has jurisdiction over the nation’s futures markets, which are used to determine commodity prices and manage business risks. The Committee’s bill will be a critical part of broad regulatory reform legislation.
