Financial Leaders and Senators Hold Bipartisan Meeting to Discuss Credit Crisis
Contact: Eileen McMenamin, Director of Communications
Washington, DC Yesterday in New York City, eight financial leaders and three U.S. Senators gathered to discuss the role of the credit rating agencies in the ongoing financial crisis and to recommend reforms that will restore investor confidence and encourage economic growth. The meeting was hosted by Senator George Mitchell on behalf of the Bipartisan Policy Center.
We recognize that this financial crisis has impacted everyone from investors and bankers to American homeowners, said Senator Mitchell. This gathering of leaders from the private and public sectors is emblematic of the structure the BPC has deployed in the past to deal with these kinds of tough policy challenges. Sometimes when you bring the right people together, creative ideas flow and solutions begin to emerge. We could certainly use some of those new ideas right now.
This assembly of financial experts included the following attendees: Roger Altman, Chairman and CEO of Evercore Partners; David Einhorn, President of Greenlight Capital; Larry Fink, Chairman and CEO of BlackRock Financial Management; Mark Gallogly, Founder and Managing Principal of Centerbridge Partners; Buddy Piszel, Executive Vice President and CFO of Freddie Mac; Sy Sternberg, Chairman and CEO of New York Life Insurance Company; David Walker, President and CEO of Peter G. Peterson Foundation; and John Whitehead, Founding Chairman of the National September 11th Memorial and Museum at the World Trade Center. They were joined by Senator Bob Bennett (R-UT), Senator Debbie Stabenow (D-MI), and Senator Tom Carper (D-DE).
Following their discussion, the participants agreed to work together to identify key policy options and creative solutions to the problems confronting the credit rating agencies. We are hopeful, said Senator Mitchell, that given the talent and innovative thinking of this group, we will be able to address these challenges with a fresh approach. I look forward to the continuation of our dialogue.
