A new report on the House Oversight and Government Reform Committee's inquiry into the Financial Crisis Inquiry Commission indicates that Rep. Darrell Issa (R-CA) is targeting his political foes while letting Republicans and the banking industry off the hook.
The FCIC released its final report on "the causes of the current financial and economic crisis" in January; none of the Republican appointees signed on to its conclusions, which were harshly critical of the financial industry. According to Investor's Business Daily, the "primary focus" of the Oversight Committee's investigation into the commission is the "the cozy ties and potential conflicts of interest between key Democratic commission members and trial lawyers suing banks on behalf of state employee and union pension funds."
In targeting Democrats, unions, and trial lawyers, Issa's committee is doing the work of the big banks that the commission partially blamed for the financial crisis. Indeed, the allegations detailed by an anonymous committee staffer in the IBD article largely rehash those offered in a January 10, 2010, Wall Street Journal article headlined "Businesses Criticize Cast of Inquiry Panel."
Issa will apparently be ignoring the "cozy ties and potential conflicts of interest" between Republican commission members and the big banks. And there are some doozies.
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