Report: Lawmakers, Top Officials Knowingly Received VIP Loans from Countrywide

By: Thursday July 5, 2012 12:19 pm

The House Oversight and Government Reform Committee, Darrell Issa’s perch, has released a new report on the practice of now-defunct mortgage lender Countrywide handing out special mortgages at low rates to members of Congress and other key officials through their “VIP” program. And it does not appear to pick sides or divvy up the information [...]

Cummings Gets Oversight Committee Ranking Membership

By: Friday December 17, 2010 7:36 am

Nancy Pelosi announced some ranking memberships for the 112th Congress last night, and most of them were holdovers. But the Oversight Committee was a wildcard. Would the ranking membership go to Carolyn Maloney, next in line for the position and backed by outgoing ranking member Ed Towns? Or would Elijah Cummings, currently third in line, [...]

Towns Reverses, Throws Support to Maloney in Oversight Committee Ranking Membership Battle

By: Wednesday December 15, 2010 7:10 am

Last night, it appeared that Elijah Cummings would attempt to leapfrog seniority and obtain the ranking membership of the House Oversight Committee with the backing of outgoing ranking member Ed Towns. However, Towns reversed course last night, saying in a statement, “I support Carolyn Maloney to become Ranking Member of the Oversight and Government Reform [...]

Towns Stepping Down from Oversight, Setting Up Three-Way Battle for Ranking Membership

By: Tuesday December 14, 2010 3:27 pm

Ed Towns will give up his post as the Democratic ranking member of the House Oversight Committee, setting up a potential battle for that spot, opposite Darrell Issa, who has promised vigorous and probably endless oversight of the Obama Administration. There was plenty of belief inside the Democratic caucus that Towns was not cut out [...]

House Oversight Launches Investigation Into BP, Minerals Management Service

By: Monday May 17, 2010 8:10 am

At the heart of the BP oil disaster is a culture of permissiveness at the Minerals Management Service, the agency supposed to regulate offshore drilling. The MMS endured one of the most embarrassing investigations of a federal agency in recent history under the Bush Administration, when the Inspector General for the Department of the Interior [...]

Geithner Dodges Oversight Committee Questioning

By: Wednesday January 27, 2010 8:05 am

Tim Geithner has yet to be tripped up so far from questioning by the chair and the ranking member of the House Oversight Committee on the AIG bailout. Ed Towns, the chairman, asked him if he was involved in any discussions about disclosure of counter-party information, and Geithner reiterated that he had no role, though [...]

Geithner To Testify On AIG/NY Fed Emails

By: Thursday January 14, 2010 12:27 pm

Treasury Secretary Timothy Geithner has announced that he will testify before the House Oversight Committee about the AIG bailout. Geithner will appear before the committee on Jan. 27, a congressional aide said on Thursday. Geithner has come under heavy criticism after it was disclosed that Fed staffers urged AIG to limit the amount of information [...]

SEC Helps AIG/NY Fed Cover-up UPDATE: Towns Subpoenas Lots Of Docs

By: Wednesday January 13, 2010 11:56 am

Last year, the Securities and Exchange Commission quietly approved a request by AIG to keep multiple details secret about their bailout and the counter-party payments of credit default swaps at issue in the recent scandal about the New York Federal Reserve. It could take until November 2018 to get the full story behind the U.S. [...]

Ed Towns Subpoenas New York Fed For AIG Documents

By: Tuesday January 12, 2010 11:37 am

The battle for transparency at the Federal Reserve just ratcheted up a notch. Edolphus Towns, the chair of the House Oversight and Government Reform Committee, just issued a subpoena to the New York Federal Reserve Bank, asking for documents related to AIG and their counter-party payments. As we’ve been tracking, the NY Fed, then under [...]

House Oversight Committee Will Hold Hearing On Geithner/NY Fed/AIG Scandal

By: Friday January 8, 2010 12:14 pm

Ed Towns, the chairman of the House Oversight and Government Reform Committee, just announced that he would hold hearings into the emails that show how the New York Federal Reserve delayed disclosure of AIG counter-party payments, hiding public information from federal regulators. The statement is below. Towns wants to hold the hearing the week of [...]

Fraternity Pranks From Issa, GOP On Oversight Committee

By: Friday October 23, 2009 11:08 am

Darrell Issa, the voice of the Viper car alarm and the richest man in the House of Representatives, wants to make a name for himself. He’d love to be the Dan Burton of the modern era, shooting watermelons in his back yard and ginning up whatever conspiracy theory he can muster to weaken a Democratic [...]

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