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House Oversight Committee Will Hold Additional Hearings on Wall Street's Breakdown
Henry Waxman, House Oversight Committee Chairman, added three more hearings on the financial crisis to the Committee's schedule in October.
Oversight had already planned to hold hearings on AIG's bailout and Lehman Brother's bankruptcy.
The new hearings will cover hedge fund regulation, the breakdown of credit rating agencies and the role of federal regulators.
"This financial crisis has shaken the global economy," Waxman said. "Congress cannot wait until a new administration arrives in January to examine what went wrong and who should be held accountable."
Waxman wrote letters requesting testimony from Treasury Secretary John Paulson, philanthropist George Soros, former Fed chairman Alan Greenspan, SEC chairman Christopher Cox and the heads of a number of hedge funds.
Josh
Zachary
How about some hearings on commodities speculators? I, for one, am sick of them increasing food and gas prices.
October 2, 2008 3:36 PM | Reply | Permalink
Oh Boy..after the fact hearings..after Congress has bailed out everybody and given a bunch of the taxpayers money to earmarks and pork to their favorite campaign contributers...while jobs keep disappearing..what happens if the taxpayers default because we have no money either...debtors prison for us...?
October 2, 2008 3:44 PM | Reply | Permalink
Of course, I think we should investigate and get to the bottom of what happened. But for the life of me -- and pardon my digression -- I simply can NOT understand how adding a trillion dollars to the national debt to grease the wheels of credit is going to help resolve (or even alleviate) an economic crisis resulting from loose credit and excess debt. Aren't we going to be back here soon only with ANOTHER TRILLION tacked on the problem?
October 2, 2008 3:58 PM | Reply | Permalink