Sam Stein reports in the HuffPo that the House reached an agreement on Monday on establishing a “9/11-styled commission that would be independent of Congress and granted the power of subpoena to investigate the origins of the financial crisis.”
Aides on the Hill said that the House will likely vote on the measure Wednesday, adding that the chances of passage were high. The office of the bill’s cosponsor, Congressman Darrell Issa, said the legislation would be similar to that recently passed by the Senate.
Considering the news today that most of the big banks that have already gotten bail-outs will need more capital, Congress should be moving on investigating this mess sooner than later. We just can’t “subsidize the banks forever” can we?