Sumitomo Corporation Hearing Before the Committee on Banking and Financial Services, U.S. House of Representatives

Hearing on the Sumitomo Corp., a Japanese company that announced on June 13, 1996 that it had lost $1.8 billion in the copper market. At the time, two major U.S. banks had an exposure of nearly $1 billion to the corp. Fortunately, for the banks & the international financial system, Sumitomo had the financial strength to meet its obligations. Witnesses: Rep. Charles E. Shumer, NY; Susan Phillips, Board of Gov. of the Fed. Reserve Comm.; Brooksley Born, Commodity Futures Trading Comm.; Douglas Ostrom, Japan Econ. Inst. of Amer.; Daniel Rappaport, R. Patrick Thompson, & Ron Oppenheimer, New York Mercantile Exchange.Leach, James A. is the author of 'Sumitomo Corporation Hearing Before the Committee on Banking and Financial Services, U.S. House of Representatives' with ISBN 9780788172694 and ISBN 0788172697.