In 2008, the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac were nationalized and given a $188 billion capital injection by taxpayers to stay afloat. Structural reform of the GSEs seemed obvious and imminent...Yet five years later, nothing has been done to address Fannie and Freddie. On Tuesday, we are introducing legislation to change that.
~ Bipartisan letter: “No institution, individual or executive should be above the law” ~
Mar 12 2013
Sens. Mark R. Warner (D-VA) and Bob Corker (R-TN), members of the Senate Banking Committee, wrote to U.S. Attorney General Eric Holder today asking him to clarify his "too big to jail" remarks, comments he made last week regarding enforcement actions on money laundering and terrorism financing activities based on the size of the culpable institution.
~ Letter Signed by 53 Senators~
Sep 27 2012
Senators Warner (D-Va.) and Pat Toomey (R-Pa.) today led a bipartisan letter to Federal Reserve Chairman Ben Bernanke, Federal Deposit Insurance Corp. Acting Chairman Marty Gruenberg and Comptroller of the Currency Tom Curry urging financial regulators to consider the impact new Basel III capital standards would have on community banks.
Taxpayers and homeowners deserve fair and complete answers, the Senators wrote
Apr 04 2012
Senator Warner led a group of 30 Senators today calling on Acting Director of the Federal Housing Finance Agency (FHFA) Edward DeMarco to provide Congress with an accurate analysis of the effects on taxpayers of using principal forgiveness versus other mortgage modification options such as principal forbearance for loans backed by Fannie Mae and Freddie Mac.
Links effective date to regulators completing their work
Mar 22 2012
Senators Mike Crapo (R-ID), Mark Warner (D-VA), Pat Toomey (R-PA), Kay Hagan (D-NC), Tom Carper (D-DE) and Bob Corker (R-TN) today introduced bipartisan legislation that provides for the implementation of the Volcker rule after the agencies have issued their final rules, rather than two years after the date Dodd-Frank was signed into law.
Today the House Financial Services Committee passed with strong bipartisan support legislation that would make it easier for growing firms to access the public markets so they can expand and create jobs. The proposal is co-sponsored in the Senate by Sens. Charles Schumer (D-NY), Pat Toomey (R-PA), Mark Warner (D-Va.), Mike Crapo (R-Idaho) and Tom Carper (D-Del.).
~ Bipartisan legislation targets talent, capital and university R&D ~
Dec 08 2011
Senator Warner today introduced bipartisan legislation that would update regulatory and tax policies to encourage entrepreneurs and innovators to launch new companies, creating jobs and broadening economic opportunities. Today's initiative builds upon bipartisan legislation Senator Warner introduced last week that is designed to make it easier for growing companies to access investment capital.
Reforms Would Spur Job Creation by Boosting Smaller Companies’ Access to Capital
Dec 02 2011
Senators Warner, Mike Crapo (R-Idaho), Pat Toomey (R-PA) and Charles Schumer (D-NY) today announced a bipartisan plan to make it easier for growing firms to go public so they can expand and create jobs. The proposal would make it easier for small and medium-sized companies to access capital through public markets.
~Highlights efforts to boost access to capital so they can hire and grow~
Jun 18 2010
RICHMOND – U.S. Sen. Mark R. Warner (D-VA) met today with Virginia small business owners and lenders to discuss his specific efforts to help small businesses grow and put more Virginians back to work. Since last fall, Senator Warner has worked closely with the White House to design new tools to help small businesses access needed capital to help strengthen the economic recovery.
Senate should underline importance of needed elements in agencies’ review
May 07 2010
WASHINGTON, DC — Senators Ted Kaufman (D-DE) and Mark Warner (D-VA) on Friday proposed an addition to the Senate’s Wall Street reform bill that would direct the Securities and Exchange Commission and the Commodity Futures Trading Commission to report to Congress on several key issues surrounding the May 6, 2010 market meltdown, which sent the Dow Jones Industrial Average tumbling dramatically in minutes. High-frequency-trading algorithms have been the initial focus of questions concerning the collapse.
Bipartisan Senate Approval for Sen. Warner's Framework for Ending Taxpayer Bailouts of Wall Street Firms
~ 93-to-5 vote in support of ending bailouts, ‘too big to fail’ ~
May 05 2010
WASHINGTON, D.C. – The U.S. Senate voted 93-5 today to adopt provisions of the Wall Street reform bill that were crafted by U.S. Senator Mark R. Warner (D-VA) in partnership with Senator Bob Corker (R-TN) for the orderly liquidation of financial firms deemed “too big to fail,” and to prevent any future taxpayer-funded bailouts of large, interconnected firms that get into financial trouble.
Senator Warner released the following statement today on the announcement by Banking Committee Chairman Chris Dodd on bipartisan negotiations for financial regulatory reform.
Jan 22 2010
U.S. Senator Mark R. Warner (D-VA), a member of the Senate Banking Committee, released the following statement today on the re-nomination of Federal Reserve Chairman Ben Bernanke for a second term:
~Warner, 32 colleagues sign letter to the President~
Oct 21 2009
WASHINGTON -- U.S. Senator Mark R. Warner today led one-third of the members of the U.S. Senate in urging the Obama administration to support America's struggling small businesses by unlocking the credit lines typically offered by small, independent and community-based banks.
Sep 09 2009
WASHINGTON – Legislation introduced in June by U.S. Senators Bob Corker (R-TN) and Mark Warner (D-VA) got a major boost today with a Congressional Oversight Panel report recommending that the U.S. Treasury Department “consider placing its GM and Chrysler shares in an independent trust that would be insulated from political pressure and government interference.”
~Bipartisan bill is an interim step to address broader regulatory reform~
Jul 30 2009
WASHINGTON – U.S. Senator Mark R. Warner of Virginia joined Senator Bob Corker of Tennessee today in introducing legislation giving the FDIC authority to resolve, or wind down, bank holding companies, an important interim step toward addressing broader regulatory reform. The senators, both members of the Senate Banking Committee, say the FDIC needs this additional authority to fill a glaring regulatory gap that has come to light over the last 18 months.
~ Funding will create jobs in the hard-hit construction industry ~
Jul 28 2009
WASHINGTON – U.S. Senators Jim Webb and Mark R. Warner today announced that the U.S. Department of Housing and Urban Development (HUD) has approved $44.2 million to jumpstart affordable rental housing programs in Virginia.
~ Bill creates private market trust for TARP investments, sets end-date for gov’t ownership ~
Jun 22 2009
WASHINGTON, D.C. – U.S. Senator Mark R. Warner (D-VA) spoke on the Senate floor today about bipartisan legislation he has introduced with Senator Bob Corker (R-TN) that will maximize returns of taxpayer investments into TARP(Troubled Asset Relief Program)assisted institutions. The bill provides for a responsible exitstrategy from government ownership of TARP-recipient companies, such as AIG, Citigroup, and General Motors.
~ Criticizes bonuses as "unconscionable" and "morally unacceptable" ~
Mar 17 2009
U.S. Senator Mark R. Warner today joined his colleagues in demanding that AIG Chairman and CEO Edward Liddy renegotiate contracts that include $165 million in taxpayer-financed bonuses to employees who were in part responsible for the insurance giant’s near collapse.