Business

GOP scraps hearing on financial inquiry panel

Posted July 12, 2011 11:00 pm

Associated Press

WASHINGTON — A Republican-led House committee has postponed a hearing into GOP allegations of mismanagement on a commission that investigated causes of the financial crisis.

Democrats, meanwhile, issued a report that said two Republican members of the commission may have leaked sensitive information.

The hearing had been scheduled for Wednesday before the House Oversight and Government Reform Committee. Chairman Darrell Issa billed the hearing as a review of the commission's inability to reach consensus and its waste of taxpayer funds.

The report issued by top committee Democrat Elijah Cummings criticized commission vice chairman Bill Thomas and member Peter Wallison. Thomas is a former Ways and Means Committee chairman and Wallison served as White House counsel.

Issa spokesman Jeffrey Solsby said the hearing was postponed to allow for additional review and analysis.

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