Mr. Berg Goes to Washington

On Wednesday, Rich Berg testified as an expert witness before the United States House of Representatives, House Sub Committee on Banking. The subject of the hearing was informally titled, “Mixed Messages”. The Committee was inquiring about credit availability in the US banking system, and whether current regulatory or accounting structures were inhibiting lending.

The first panel called were representatives of the FED, OCC, OTS and SEC. Rich addressed the statement by Tim Long, Director of the OTS and his obervation that lending would not begin, until the securitization market was cured.

Watch Rich Berg’s testimony below.