CQ TODAY ONLINE NEWS
March 3, 2009 – 2:38 p.m.
Next Up: A Select Panel on the Economic Crisis
By Phil Mattingly, CQ Staff
Two of the Senate’s primary investigators of the Jack Abramoff lobbying scandal are teaming up again to create a select committee to examine the causes of the current financial crisis.
Sens. John McCain , R-Ariz., and Byron L. Dorgan , D-N.D., said today they plan to introduce legislation to form the panel, which would be tasked with making recommendations to prevent a future crisis.
The two worked together on the Senate Indian Affairs Committee to lead the probe into Abramoff, a former lobbyist responsible for directing millions in gifts and favors to lawmakers and their aides.
A new select panel on the financial crisis would be responsible for investigating the economic collapse that has cost trillions and has touched nearly every facet of American life, from home ownership to auto sales to small businesses and Wall Street.
But good intentions aside, a new select panel could spark a turf war, especially with the Senate Banking, Housing and Urban Affairs Committee, which has been largely responsible up to this point for determining how the collapse happened and how to keep it from happening again. Chairman Christopher J. Dodd , D-Conn., worries about what could happen with too panels working on the same issue.
“It conflicts, I think,” Dodd said, although he added that he is “not necessarily” opposed to the idea.
Dorgan said the “intent is not to conflict with anybody.”
“It’s hard to develop a comprehensive plan going forward if you don’t understand what happened,” he said.




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