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Whom Should Darrel Issa Investigate?

Posted by Larry Doyle on January 4, 2011 6:47 AM |

Darrell Issa, Republican Congressman from California, will be the new chair of the House Oversight and Government Reform Committee. Early indications are that he will pursue investigations of Wikileaks, Fannie Mae and Freddie Mac, perhaps the Food and Drug Administration, and the failures and ineptitude of the Financial Crisis Inquiry Commission.

Is there any doubt that Issa and his committee could work around the clock pursuing a wide array of investigations? I have no doubt. The question begs, though, will Issa specifically lead this committee in an overly partisan fashion as it has operated in the past? Will Issa pursue investigations without generating real truth, transparency, and integrity? Will he unearth the ‘smoking guns’? Will he ask the hard questions and demand the real answers?

We can only hope that Darrell Issa and the other committee members appreciate the level of disdain and distrust that America holds for so many individuals and institutions which have betrayed our national welfare. When will America get the answers it deserves?

Politics Daily highlights Issa’s new role and his work in writing, Obama Foe Darrell Issa Sets House Oversight Agenda, Targets Wikileaks:

An outline of the committee’s expected hearing topics, reported by Politico, shows that it intends “to investigate how regulation impacts job creation, the role of Fannie Mae and Freddie Mac in the foreclosure crisis, recalls at the Food and Drug Administration and the failure of the Financial Crisis Inquiry Commission to agree on the causes of the market meltdown,” Politico said, noting that no hearings are likely to begin until late this month or early February.

While Issa could go in many different directions and be consumed  — if not overwhelmed — in the process, I would encourage him to pinpoint his work on the the failure of the Financial Crisis Inquiry Commission. What does America really want to know? Plenty, but in my opinion, America really wants to know the following:

Who are the charter members of the Wall Street-Washington “Incestuous” Party. America wants to know who in Washington was in bed with Wall Street. Open the doors and rip back the bed sheets at the SEC, FINRA, and the CFTC. Who on Capitol Hill, from both sides of the aisle, gave cover while the ongoing trysts and ‘love triangles’ (figuratively, the literal stuff we can do without) played out?

Congressman Issa, “we’ll be watching”!!

Those who appreciate ‘sense on cents’ encourage and implore you to ‘take no prisoners.’

Larry Doyle

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I have no affiliation or business interest with any entity referenced in this commentary. The opinions expressed are my own and not those of Greenwich Investment Management. As President of Greenwich Investment Management, an SEC regulated privately held registered investment adviser, I am merely a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.

  • LCR

    How about the Federal Home Loan Bank system while he is at it, a huge part of the federal banking/mortgage business and chronically wasting of assets by political appointee types who managed to run it into the ground by seeking illusory profits in businesses they knew nothing about nor were chartered to enter. However, they managed to pay themselves huge bonuses even while losing billions on their misquided quests






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