Monday, July 5, 2010
Week 6: Benefits of Working On the Hill
Interning on the Hill has been one of the most dynamic learning experiences I've had. The best part about working on the Hill is that I am constantly learning new material in order to formulate an opinion on the issues at hand. For example, I have worked on issues ranging from financial reform to the disastrous oil spill that is plaguing the Gulf. The Legislative Director and Chief of Staff have shared with me the possibility of becoming a Fellow, which would be a great opportunity to further develop my analytical skills by working with the LD on legislative issues. Also, as an intern, I've been given the opportunity to pursue my interests outside of the office as well. This week I attended the FCIC hearing on the role of derivatives in the financial crisis where executives from Goldman and AIG were testifying. My hope was to expand my knowledge on how derivatives were used abusively during the crisis and to further understand their true purpose in the marketplace, but I was disappointed to hear the Commission focus on one transaction that shed little light on the broader picture. Commissioner Hennessey seemed to also believe that many of the questions being asked would not enable the Commission to make policy recommendations regarding derivatives or to even draw conclusions of how they were used inappropriately, which was disappointing as a student of finance. Nonetheless, it was, and has been, a pleasure to have the opportunity to learn new information on pertinent issues and to further develop my particular interests.