Skip to content

Hill Leaders Tap Two Former Members for Financial Crisis Panel

House and Senate leaders on Wednesday announced their appointments to the Financial Crisis Inquiry Commission, a 10-member panel tasked with examining the domestic and global causes of the financial sector meltdown. Senate Majority Leader Harry Reid (D-Nev.) and Speaker Nancy Pelosi (D-Calif.) each made three appointments.Pelosi’s picks include Phil Angelides, who served as California state treasurer from 1999 to 2007; Brooksley Born, who chaired the Commodities Futures Trading Commission from 1996 to 1999; and John W. Thompson, board chairman and former CEO of Symantec Corp., a leading security software provider.Reid’s appointments include former Sen. Bob Graham (D-Fla.); Heather Murren, a retired managing director for global securities research and economics at Merrill Lynch; and Byron Georgiou, a Las Vegas-based businessman and attorney.Pelosi and Reid jointly chose Angelides to head the commission.House Minority Leader John Boehner (R-Ohio) and Senate Minority Leader Mitch McConnell (R-Ky.) each made two appointments.Boehner chose former Ways and Means Chairman Bill Thomas (R-Calif.) and Peter Wallison, co-director for financial policy studies at the American Enterprise Institute. McConnell appointed former Congressional Budget Office Director Doug Holtz-Eakin and former National Economic Council Director Keith Hennessey.Boehner and McConnell jointly chose Thomas to serve as vice chairman of the commission. The commission was created in a mortgage, securities and financial fraud bill that Congress passed earlier this year. Commission members are tasked with holding hearings on more than 20 areas of inquiry and are required to issue a final report by Dec. 15, 2010.“The American people are entitled to a thorough examination of what went wrong. The men and women who we appoint to this commission must help the public gain a full understanding of why our system failed us in the past and I am confident that we have chosen the right people to lead that effort,— Reid said in a statement.

Recent Stories

Case highlights debate over ‘life of the mother’ exception

Supreme Court split on Idaho abortion ban in emergency rooms

Donald Payne Jr., who filled father’s seat in the House, dies at 65

Biden signs foreign aid bill, says weapons to be sent to allies within hours

Airlines must report fees, issue prompt refunds, new rules say

Capitol Ink | B Movie