| What: |
The California State Assembly Committee on Banking and Finance (Assemblymember Ted Lieu, Chair), along with Operation Hope, are sponsoring an informational hearing on the subprime mortgage crisis. The Committee will be taking testimony from Lenders, Community Organizations, and regulatory agencies. |
| Who: |
Assemblymembers Ted Lieu, Karen Bass, Kevin De León, Felipe Fuentes, Betty Karnette, and Sandré Swanson will be joined by John Hope Bryant, the Founder of Operation Hope. For a complete list of scheduled speakers, please see the attached draft agenda. |
| When: |
Thursday, November 1, 2007, 10:00am |
| Where: |
Nate Holden Performing Arts Center
4718 Washington Blvd
Los Angeles, CA 90016 |
| Why: |
The subprime mortgage crisis is the top threat to the economy, spreading throughout the country through all social and income levels. Some economists even believe that the fallout of this crisis could push the economy into a recession. The Banking and Finance Committee is holding this hearing to fully understand the scope of the problem, and to explore possible state level responses. The hearing will also discuss the role of financial literacy in the crisis. |
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