Representative Edolphus Towns (NY-10)
Full Event Video: www.americanprogress.org/events/2009/09/directors.html
A Fair Deal for Taxpayer Investments
Public Directors are Necessary to Restore Trust and Accountability at Companies Rescued by the U.S. Government
The federal government responded to the 2008 financial meltdown by providing enormous amounts of public funds to troubled financial institutions and markets. These bailouts, which made clear that "systemically significant" financial institutions will receive taxpayer support should they be on the verge of failure, were heavily criticized for lacking measures to ensure transparency and accountability. Against this backdrop, the Center for American Progress is releasing a new report authored by Emma Coleman Jordan, Professor of Law at the Georgetown University Law Center, which proposes the implementation of "public directors" whenever significant public funds are directed towards private entities.
Please join the Center for what promises to be a fascinating and timely discussion around Prof. Jordan's proposal, with opening remarks from the Honorable Edolphus Towns (D-NY), Chairman of the House Committee on Oversight and Government Reform, followed by a panel of distinguished speakers.