We don't expect the average citizen to know what SIV stands for (the answer is structured investment vehicle: one pillar of the "shadow banking system" that contributed to the financial crisis). But the bar is a bit higher for GOP Rep. Judy Biggert, who sits on the ...
We don't expect the average citizen to know what SIV stands for (the answer is structured investment vehicle: one pillar of the "shadow banking system" that contributed to the financial crisis). But the bar is a bit higher for GOP Rep. Judy Biggert, who sits on the House Financial Services Committee and is the ranking member on the Oversight and Investigations Subcommittee.
As Hiram Wurf notes, when WGN Radio host John Williams asked her about the acronym this morning, she appeared not to know what it meant. Judge for yourself:
WILLIAMS: What are those SIVs he [Rep. Michael Capuano] is referring to?
BIGGERT: [Pause] I - I don't know.
WILLIAMS: Well, whatever it is, it sounds like he thinks it's illegal.
Not encouraging.
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