March 2nd, 2009
05:26 PM ET
6 years ago

McCain, Dorgan to seek Senate committee on financial crisis

WASHINGTON (CNN) – Republican Sen. John McCain and Democratic Sen. Byron Dorgan plan to introduce legislation to create a Senate panel to investigate the causes of the financial crisis, McCain’s office said in a statement Monday.

If approved, the committee would also make recommendations about how to avoid a similar crisis in the future.

The two senators plan to hold a press conference Tuesday afternoon on Capitol Hill to formally announce their proposal.


Filed under: John McCain
soundoff (62 Responses)
  1. C Spurgeon

    Go soak your head John mcCain. You lost..get over it.Just what we need more committees especially by financially astute people like you.

    March 2, 2009 05:29 pm at 5:29 pm |
  2. Had It

    Is McCain (e.g., Keating 5 fame) going to suggest MORE deregulation AGAIN?

    March 2, 2009 05:30 pm at 5:30 pm |
  3. KC

    Maybe someone will do something other than blow taxpayer's dollars and pad their own pockets (Pelosi, Franks, Dodd, Reid).

    March 2, 2009 05:32 pm at 5:32 pm |
  4. JJ

    This will never happen. The Dems will not want the country to know the TRUTH that is was all the Demo policies and doings that caused this to happen...

    March 2, 2009 05:36 pm at 5:36 pm |
  5. Annie

    It's about time......

    Let's just hope that the panel will act swiftly.

    The last thing we need is another delay of action like Sen. Rangel, who has yet to answer or pay for his tax evasion. When is Pelosi and the Senate going to finally address that issue?

    March 2, 2009 05:37 pm at 5:37 pm |
  6. karen-Phoenix

    President Obama already DID THAT!!

    March 2, 2009 05:39 pm at 5:39 pm |
  7. Deborah

    YES! YES! YES!

    We need an answer to this question.....

    And we need to make sure it never happens again!

    Maybe after we get to the truth and set up regulations that will work investors will feel confident about investing in America again!

    Thank you Maverick McCain!

    March 2, 2009 05:42 pm at 5:42 pm |
  8. Mike in Houston

    That investigation, if done honestly, will lead them to Chris Dodd, Rangel and Barney Frank.

    March 2, 2009 05:42 pm at 5:42 pm |
  9. Lisa P

    I can't decide if this committee should be called the Committee on How It Wasn't Our Fault or the Committee In Charge Of Locking The Barn Door After The Horse Gets Out.

    Either way I'm not really seeing a point (except maybe to keep McCain occupied until he retires, or is retired?).

    March 2, 2009 05:43 pm at 5:43 pm |
  10. Mark, B'ham., Al.

    Is it going to blame politicians for their everyone has a rig t to own a home attitude? Is it going to blame the financial institutions who did not tell politicains to stick it and loan only to those who could afford the house? Is it going to blame the American People especially in those states where housing prices were rediculous, who lied to financial institutes or fudged what they really made or thought their 40 year old 3 bedroom, one bath ranch house was worth $400,000.00? No!

    March 2, 2009 05:44 pm at 5:44 pm |
  11. Mike O'Brien

    Maybe, we should look into Senator John McCain's finances.., how many houses or homes ? Doesn't know about how many homes he and his wife has ? Maybe, a closer look at Senator John McCain financial dealing and his wife (Cindy) ? Before, John McCain's speaks.., let's take a closer look into his and his wife finances.. Mike in Montana

    March 2, 2009 05:44 pm at 5:44 pm |
  12. Mari

    I think this is a great idea! Finally........ something BIPARTISAN!

    We MUST investigate, and get to the bottom of the Bush Disaster so that we can learn from mistakes!

    Starting with the SEC and its refusal to investigate Madoff!

    March 2, 2009 05:50 pm at 5:50 pm |
  13. Tracy

    Sorry but this is the guy who said the economy was sound and now he wants to investigate why it is the way it is? I thought he and so many others knew the cause – wasn't it the de-regulation allowed by Clinton and Senator Dodd? Oh wait, wasn't it Freddie Mac & Fannie Mae CEOs? Does anyone honestly believe that anyone on Capitol Hill has a real clue? Do we really have time or money to rehash the past ?

    March 2, 2009 05:50 pm at 5:50 pm |
  14. John

    No need to investigate John, your republican party is to blame for the current economic disaster.

    March 2, 2009 05:52 pm at 5:52 pm |
  15. No Vaseline

    Wow, finally McCain makes a smart move. That's one more than most of you Rethuglicans will ever come up with

    March 2, 2009 05:52 pm at 5:52 pm |
  16. M.O.H.E

    This is what I like to see action and not windbagging like the "full of answers" Rush Limbaugh.He brought in the money $33 million (2007) . And he has a way with women (away with women)Spouses Roxy Maxine McNeely,Michelle Sixta, Marta Fitzgerald. 33 million could put 36 people to work @ 30,000/year for 30years. He does not care about Joe Blow.

    March 2, 2009 05:53 pm at 5:53 pm |
  17. u2canfail

    It will only be interesting if they can keep party politics out. I do not think that will happen. McCain has an agenda and no backbone. I know nothing about the N Dakota Senator. This is a political bombshell. It has every problem, money, rules & the lack of rules, who did what to whom. If a committee is to look at this, we need an independent group.

    As a person with no debt, a great retirement package in the market, (now gone), I would love to know. With no job, retirement is here now.

    March 2, 2009 05:56 pm at 5:56 pm |
  18. Obama 2.0

    That sounds like a great idea!

    March 2, 2009 06:00 pm at 6:00 pm |
  19. disgusted

    It would be interesting to see if there is any criminal activity involved. It is a good step to take.

    March 2, 2009 06:05 pm at 6:05 pm |
  20. Jason

    McCain is desperate to stay in the spot light.

    March 2, 2009 06:06 pm at 6:06 pm |
  21. Simpliticus

    Let the recriminations begin! Might as well determine who and what caused this nosedive of financial activity during the Bush administration. George W. Bush was given a surplus when first inaugurated and then turned this country into a ten trillion dollar problem. Do you think that the Senate will discover that when you take a guy who has had a history of turning companies into failed ventures beginning with Arbusto, Spectra Seven, Harken, and so forth, that a consensus should show that the US is also a nearly failed institution under this man? It is about time that this investigation get started after all what else do the Republicans have other than name-calling. These guys would have us believe that the Titanic is still seaworthy two and a half miles under the ocean and it wasn't the fault of the company that placed it there. Time will tell!

    March 2, 2009 06:08 pm at 6:08 pm |
  22. ex illinois man, now pennsylvanian

    sounds good to me

    March 2, 2009 06:10 pm at 6:10 pm |
  23. cruiserGT

    Congress has already done enough to tank our financial systems. How about they all stay the heck out of private business and focus on shrinking government.

    Geez! How long can Americans take government help? I can hardly stand anymore.

    March 2, 2009 06:11 pm at 6:11 pm |
  24. Len in Washington

    This is a repeat of what he said at the beginning of all this during his campaign. "We need to set up a committee to investigate this and come up with the best solutions..."

    Come on!!!!! Do these two politicians really think they know how to get to the bottom of this and then fix it? Well, I guess they could if we give them enough YEARS!!!! One problem////if we wait that long there won't be anything to fix.

    McCain...same old grumpy, sore looser.

    March 2, 2009 06:14 pm at 6:14 pm |
  25. flybyshoeing

    McCain? The fundamentals of the Economy are Strong? That McCain?
    Ha,Ha, Ha, No, Stop, This is a joke committee right?

    March 2, 2009 06:17 pm at 6:17 pm |
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