|Stulz testifies before U.S. House subcommittee|
|When the U.S. House Subcommittee on Capital Markets and Government Sponsored Enterprises held hearings on the mutual fund industry, it called only one expert from a business school to testify.
René Stulz, Everett D. Reese Chair of Banking and Monetary Economics and professor in the Department of Finance, provided testimony during the summer 2011 hearings, which provided policy makers with information on the long-term stability of money markets. The hearings had heightened relevance in light of the debt crisis in Greece and its impact on money market mutual funds.
During his testimony, Stulz cited findings from The Squam Lake Report: Fixing the Financial System (2010, Princeton University Press). Stulz is one of 15 preeminent scholars in the Squam Lake Group, which Chairman of the Federal Reserve Board Ben S. Bernanke praised for “articulating an intellectual framework for transforming the lessons of the recent financial crisis into practical recommendations.”