On Wednesday, May 14, 2008, Sen. Charles E. Schumer (D-NY) convened a Joint Economic Committee (JEC) hearing to examine the current systemic risk in the U.S. financial system and the possible government and private sector solutions to protect the economy against those ongoing risks.

Entitled, “Wall Street to Main Street: Is the Credit Crisis Over and What Can the Federal Government Do to Prevent Unnecessary Systemic Risk in the Future?” the JEC heard testimony from Ms. Seidman, former Chairman of the Federal Reserve Board of Governors, Paul Volcker, Alex Pollock and Douglas W. Elmendorf.