"In the wake of
"With the recently finalized Volcker Rule, we began to see these consequences almost immediately after it was released as community banks were faced with taking large write downs. While the joint regulators eventually corrected this error, there are still several other Volcker-related issues yet to be resolved, most notably with respect to CLOs and asset-backed securities.
"I think most would be hard-pressed to characterize financing the operations of these
"I appreciate the bipartisan group of members to correct this misapplication of the Volcker Rule and look forward to its resolution.
"I look forward to your testimony. Thank you, Mr. Chairman. I yield back the balance of my time."
Click here for a link to video of Congressman Hurt's opening statement. http://www.youtube.com/watch?v=_HoVLcmoeJ0&feature=c4-overview&list=UUPk3cMrcjfgR9LgQkEuCo7Q
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