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Weary members of Congress adjourned Friday after working around the clock for a week to pass the $700 billion Wall Street bailout. Lawmakers aren't scheduled to get back to Washington until January.
Henry Waxman, D-N.Y., the chairman of the House Oversight and Government Reform Committee, however, will bang his gavel at 10 a.m. sharp Monday for the first to two hearings next week on the causes of the financial mess. Monday's hearing tackles the bankruptcy of Lehman Brothers Holdings Inc. Tuesday Waxman moves on to the $85 billion bailout of American International Group Inc.
Last last week the tireless Waxman announced also three more hearings for this month. On Oct. 15 he reviews the regulation of hedge funds. The committee has invited five fund managers who earned over $1 billion last year to testify about the role hedge funds play in the financial markets and their regulatory and tax status. The five are John Alfred Paulson, president, Paulson & Co.; George Soros, chairman, Soros Fund Management LLC; Philip A. Falcone; senior managing director, Harbinger Capital Partners; James Simons, director, Renaissance Technologies LLC; and Kenneth C. Griffin, CEO and managing director, Citadel Investment Group. Oct. 22 the credit rating agencies go under the microscope as the CEOs of the nation's three largest credit rating agencies have been asked to appear. The proposed witnesses are Deven Sharma, president, Standard & Poor's; Raymond W. McDaniel, chairman and CEO, Moody's Investors Service; and Stephen Joynt, CEO, Fitch Ratings. Oct. 23 is being reserved for former Federal Reserve Chairman Alan Greenspan, former Treasury Secretary John Snow and current SEC Chairman Christopher Cox to testify about federal regulators' "role and responsibility" for the Wall Street financial crisis. - William McConnell See Dealscape: Lehman's Fuld goes to Capitol Hill heads to face the music Bill McConnell is The Deal's Washington bureau chief. Categories Deal Video
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