U.S. Rep. Doggett Urges Chairman Bernanke to Make Bank Compensation Report Available to Public

Statement

U.S. Rep. Lloyd Doggett (D-Texas), a senior member of the Ways and Means Committee, has called on the Chairman of the Federal Reserve, Ben Bernanke, to make publically available the Fed's report on bank compensation structures and the steps that it has taken to rein in excessive bonus and incentive programs at our country's largest banks, as required by the Wall Street Reform bill signed into law on July 21, 2010. At a House Budget Committee hearing this February, Rep. Doggett questioned Chairman Bernanke on the timing of this report and made clear his strong belief that it should be made public in its entirety. It has been over a year since Rep. Doggett first raised this issue with Chairman Bernanke. As a strong supporter of open government, today Rep. Doggett called again on Chairman Bernanke to make the report public:

"Years without accountability for big Wall Street banks brought us the worst financial crisis in generations, costing millions of jobs and leaving countless families with no nest egg," said Rep. Doggett. "The Wall Street Reform bill was the first step to restoring responsibility and accountability in our financial system. Part of this reform was meant to ensure that these big banks are no longer able to hand out golden parachutes while they ask the American people to foot the bill. This bank compensation report is a critical part of protecting taxpayers, and I am hopeful that the Federal Reserve will publically release it immediately."

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