Republicans Announce Appointments to the 9/11-Style Financial Crisis Commission |
Wednesday, 15 July 2009 09:00 |
WASHINGTON, D.C. – Congressional Republicans announced today their four appointments to the 10-member Financial Crisis Inquiry Commission formed to investigate the causes, handling, and way forward from the current financial crisis. The creation was such a panel was first proposed by Rep. Darrell Issa (R-CA), the Ranking Member of the House Committee on Oversight and Government Reform last fall. Former House Ways and Means Committee Chairman Bill Thomas has been appointed to serve as Vice Chairman of the Commission, as well as Peter Wallison, Co-Director for Financial Policy Studies at the American Enterprise Institute, former Congressional Budget Office Director Doug Holtz-Eakin and former National Economic Council Director Keith Hennessey.
“The pieces are finally in place to do what should have been done at the beginning of this crisis –investigate the root causes of the financial meltdown and provide nonpartisan recommendations on a way forward,” Issa said. “As Congress and the Administration work to address the financial crisis, it makes sense to have an independent commission examine what went wrong and why.”
Rep. Issa first introduced legislation to create a bipartisan and indepedent commission last fall and again this past January. H.R. 74, the Financial Oversight Commission Act, was modeled after the 9/11 Commission and the Iraq Study Group.
“We need an honest broker to ask all the questions about what created, shaped, and could have been done to avert this crisis,” Issa said. “The point of this commission isn’t to point fingers and place blame, but rather to identify mistakes so that efforts to restart the economy and avoid a future reoccurrence aren’t misguided. A truly independent and nonpartisan commission can put forward an assessment that will help us avoid repeating the mistakes that got us into this crisis in the first place. “I look forward to the commission’s findings and I hope that partisan politics do not impede the important work ahead.”
The Financial Crisis Inquiry Commission:
The four appointees’ biographical information follows: The Hon. Bill Thomas
Douglas Holtz-Eakin
Peter Wallison
Keith Hennessey
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