Jimmy, Oh Jimmy's Back (The Return Of Citizen Cayne)

The Wall Street / Washington fun moves on this week, with a whole new cast of characters due to appear before the Financial Crisis Inquiry Commission (FCIC).

The FCIC has announced details for the Commission’s next public hearing titled 'The Shadow Banking System' - the system of bank-like financial institutions and markets operating outside of the regulatory structure for traditional banking activities.

And Wednesday should be a cracker, with former Bear Stearns CEOs Jimmy Cayne and Alan Schwartz, together with former firm President Warren Spector and ex-CFO Michael Molinaro centre stage.

Here's the full roll call:

DAY ONE - WEDNESDAY, MAY 5

Session 1: Investment Banks and the Shadow Banking System

Paul Friedman, former Chief Operating Officer of Fixed Income Bear Stearns

Samuel Molinaro, Jr., former Chief Financial Officer and Chief Operating Officer Bear Stearns

Warren Spector, former President and Co-Chief Operating Officer Bear Stearns

Session 2: Investment Banks and the Shadow Banking System

James E. Cayne, former Chairman and Chief Executive Officer Bear Stearns

Alan D. Schwartz, former Chief Executive Officer Bear Stearns

Session 3: SEC Regulation of Investment Banks

Charles Christopher Cox, former Chairman U.S. Securities and Exchange Commission

William H. Donaldson, former Chairman U.S. Securities and Exchange Commission

H. David Kotz, Inspector General U.S. Securities and Exchange Commission

Erik R. Sirri, former Director Division of Trading & Markets U.S. Securities and Exchange Commission

DAY TWO - THURSDAY, MAY 6

Session 1: Perspective on the Shadow Banking System

Henry M. Paulson, Jr., former Secretary U.S. Department of the Treasury

Session 2: Perspective on the Shadow Banking System

Timothy F. Geithner, Secretary, U.S. Department of the Treasury; former President, Federal Reserve Bank of New York

Session 3: Institutions Participating in the Shadow Banking System

Michael A. Neal, Vice Chairman, GE and Chairman and Chief Executive Officer GE Capital

Mark S. Barber, Vice President and Assistant Treasurer GE Capital

Paul A. McCulley, Managing Director PIMCO

Steven R. Meier, Chief Investment Officer State Street

About the Financial Crisis Inquiry Commission (FCIC)

The bi-partisan 10-member Financial Crisis Inquiry Commission was created by Congress and is charged with examining the causes of the financial meltdown. It is also examining causes of the collapse of major financial institutions that failed or would likely have failed had they not received exceptional government assistance.

As part of its inquiry, the Commission will hold a series of public hearings throughout the year including, but not limited to, the following topics: avoiding future catastrophe, complex financial derivatives, credit rating agencies, excess risk and financial speculation, government-sponsored enterprises, the shadow banking system, subprime lending practices and securitization, and too big to fail.

The Commission is comprised of Chairman Phil Angelides, Vice Chairman Bill Thomas, and Commissioners Brooksley Born, Byron Georgiou, Robert Graham, Keith Hennessey, Doug Holtz-Eakin, Heather Murren, John W. Thompson, and Peter Wallison.

Findings and conclusions are to be presented in a formal report to Congress and the President by December 15, 2010.

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