Verret Testifies in Hill Hearing
Professor J.W. Verret provided testimony at an April 17 House Oversight and Government Reform Committee TARP, Financial Services and Bailouts of Public and Private Programs Subcommittee hearing on "The SEC's (Securities and Exchange Commission) Aversion to Cost-Benefit Analysis."
Appearing along with witnesses SEC Chairman Mary Schapiro; former SEC Inspector General H. David Kotz, managing director of Gryphon Strategies; Henry Manne, dean emeritus of Mason Law; and Jacqueline McCabe, executive director for research at the Committee on Capital Markets Regulation, Verret offered a list of eight items he said would demonstrate a sincere commitment by the SEC to fulfill its statutory mission.
"I offer this list as a test of the SEC's resolve to make economic analysis a real constraint on SEC rulemaking and a limit on the pressures it may face to politicize its activities and undermine its investor protection mission," Verret said.