An interesting hearing of the state Senate Banking Committee is scheduled for 11 a.m. on Friday (Webcast will be at this site). Conducting it is Brian Foley (D-Blue Point) and Jeff Klein (D-Bronx). It has to do with Argentina having defaulted on bonds, its impact and loss of revenue for the state.
The hearing will examine how a foreign government can manipulate and abuse New York's capital markets, undermining rule of law and the fundamental principles under which these markets function. The hearing will also seek concrete recommendations for action New York State can take to prevent such manipulation and abuse from recurring.