SENATE APPROVES DORGAN-MCCAIN LEGISLATION TO CREATE SELECT SENATE COMMITTEE TO INVESTIGATE ECONOMIC CRISIS
Wednesday, April 22, 2009
(WASHINGTON, D.C.) – The United States Senate today voted to accept legislation offered by Senators Byron Dorgan (D-N.D.) and John McCain (R-Ariz.) that would establish a Senate select committee to investigate the causes of the current financial crisis and make recommendations to ensure that a crisis of this magnitude does not happen again.
The bipartisan select committee, called for by Dorgan and McCain, would have full subpoena power, and have authority to get to the bottom of this crisis. The Committee would be directed to inform Congress and the American people how this crisis happened and make recommendations on how to make sure a crisis like this never happens again.
“Today’s vote by the Senate is major progress on my effort to get to the bottom of this financial crisis,” Dorgan said. “While I also support an outside commission, and have previously introduced legislation to establish such a commission, I believe the Senate has an important oversight responsibility that cannot be delegated. That’s why we need a select Senate committee to investigate this financial crisis and make sure it never happens again.”
The Senate has historically appointed select committees to investigate specific subjects for a limited time. For example, The Truman committee investigated fraud, waste and abuse in government contracting during World War II. The Kefauver committee investigated the national expansion of organized crime. The Church committee investigated misconduct by our intelligence agencies. Dorgan and McCain have a history of successfully investigating abuses, having led the investigation of the Jack Abramoff lobbying scandal. The two now believe a select committee is essential to restore the confidence of the American people in the economy.
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