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. D O

    Old man go back to your cage ? RNC cost all this problem Impeach Bush ???

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

    Not one committee they have ever formed has accomlished anything meaningful. If McCain is involved, it'll really become a disaster. Let him form a panel to study why Republicans are so anti-America.

    March 2, 2009 06:24 pm at 6:24 pm |
  3. mkn

    Where have these concerned Senators been the past EIGHT YEARS???????

    March 2, 2009 06:25 pm at 6:25 pm |
  4. nadinewi

    OMG didn't you learn anything when you suspended your campgain to fix the financial problem the first time. 8 years of Bush is what caused this, 2 wars, liars, theives and hypocrates on Wall Street and in Washington, you've been working there for over 30 years and was in the Senate for the 8 years Bush was in office and you didn't see anythng wrong? Come on Mccain. Give it a rest will you.

    March 2, 2009 06:28 pm at 6:28 pm |
  5. Patsy

    Do we really need a "Panel" to investigate the causes of this
    financial crisis? How about greed, deregulation, "buddies helping
    buddies", incompentence, NO VETO PEN, and more greed.
    There, now pay me what it will cost you to convene this panel.
    We won't hear the truth. It will be a lot of finger pointing, who me?, and
    cover up. Get with the program and start working together on
    solutions.

    March 2, 2009 06:30 pm at 6:30 pm |
  6. Mike in Philly

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

    Not be stupid and greedy anymore?

    March 2, 2009 06:30 pm at 6:30 pm |
  7. Brendose, Oceanside CA

    Isn't that like investigating your own crime? Something is fishy about this. What better way to control what "findings" are brought to the public and filter them before they are released!

    I think McCain had a big role in the deregulation of the financial industry, and he's afraid that if he isn't in on the investigation, he cannot prepare his lawyers ahead of time.

    March 2, 2009 06:31 pm at 6:31 pm |
  8. david goldman

    LETS THINK HARD. COMMON FOLKS WE CAN DO THIS.

    OH, OH, I GOT IT !!!! I GOT IT !!!!!

    8 YEARS OF SENDING MONEY TO IRAQ BY THE TRUCKLOAD-

    PER DAY, MARKET MANIPULATION & FRAUD, TAX BREAKS TO

    THE VERY WEALTHY & TO OIL COMPANIES. DID I FORGET-

    HAVING A GREEDY, DISHONEST MORON FOR PRESIDENT,

    WHOSE POLICIES MCSENILE SUPPORTED BY A 95% VOTE.

    NOW WE CAN SKIP THE EXPENSE OF THE REPUBLICAN

    COMMITTEE CRAP ALTOGETHER. I SHOULD CHARGE FOR THIS.

    March 2, 2009 06:43 pm at 6:43 pm |
  9. Rob

    Actually if handled right, would be a good idea. I am tired of all the finger pointing, who did what to who and so forth, and all of the experts, pundits and talking heads ( regardless of political affiliation) have NO CLUE as to what they are talking about as they have been 100% wrong about this from the get go. David Faber's House of Cards program was quite good at walking through the basic history, but really only scratches the surface, and I still can't figure out what a "credit default swap" is or why someone would want one and I have two post-bacculaureate degrees.
    The big problem is expecting Congress to handle something like this properly, independent of their special interest supporters and with 110% transaparency maybe something akin to the Watergate hearings, but who could fill Sam Ervin's shoes, very few if any come readily to mind.

    March 2, 2009 06:45 pm at 6:45 pm |
  10. Jkay - KCMO

    I hope he fails.

    March 2, 2009 06:58 pm at 6:58 pm |
  11. JT

    We already know what caused the financial crisis, GEORGE BUSH.

    March 2, 2009 07:00 pm at 7:00 pm |
  12. BRENDA

    The Republicans will say and do anything to make themselves blameless. Dumb Idiots!

    March 2, 2009 07:01 pm at 7:01 pm |
  13. a southern bell

    THE REPUBLICANS WANT TO

    INVESTIGATE THEIR OWN CRIME !!!!

    March 2, 2009 07:11 pm at 7:11 pm |
  14. texas teacher

    What? Does this mean that McCain feels like he has NOTHING to do with the current state of the economy? He voted in lock step with Bush/Cheney all the 8 years they were in power! They voted for Corp. welfare for the wealthiest 5% of the population! They gave them tax breaks to take their business to third world countries! They gave them the humongous Bail Out with NO accountability for the money! And he thinks we do now know what caused this melt down in our economy? Really?

    What is this stupid Democrat saying.... perhaps, I voted in lock step with the Republicans as well... I don't want to get blamed for this melt down.... so what better way to hide their evils. You know like telling the Fox to investigate the missing Chicken Problem in the Hen House! *LOL* Seriously...

    March 2, 2009 07:14 pm at 7:14 pm |
  15. Brett

    Who needs terrorists when we have the GOP and Rush Limbaugh!

    March 2, 2009 07:14 pm at 7:14 pm |
  16. A tired American

    This could prove to be really interesting, but to be truthful I doubt that the money spent will be worth it. If they complete the investigation and don't like the answers, they won't implement any recommendations for preventing reoccurances.

    March 2, 2009 07:15 pm at 7:15 pm |
  17. Angie in Pa

    Mccain is Just to Blame for Dergulation I dont trust him on this!

    March 2, 2009 07:15 pm at 7:15 pm |
  18. legal in nc

    The left doesn't want this because they would no longer be able to spew "it was ALL Bushes fault" and that would ruin their talking points.

    I notice that although there was one R and one D mentioned the left only blast the R.

    Hypocrits!

    March 2, 2009 07:17 pm at 7:17 pm |
  19. Ginger

    Foxes guarding the chicken coop.

    March 2, 2009 07:18 pm at 7:18 pm |
  20. Casey | Sebastopol, CA

    Only Republicans would want to spend EVEN MORE taxpayer money to figure that out! What? Are they hoping they can somehow blame it on global warming or abortionists?

    March 2, 2009 07:18 pm at 7:18 pm |
  21. Nino

    Military empire around the world! Just a thought.

    March 2, 2009 07:18 pm at 7:18 pm |
  22. Lilarose in Bandon, Oregon

    McCain still doesn't get it that he didn't win the presidency.

    Most men his age would quietly return to their home and young wife and RETIRE!

    March 2, 2009 07:35 pm at 7:35 pm |
  23. gl, Pittsburgh

    Why do McCain think he is in charge? He lost didnt he?

    March 2, 2009 07:36 pm at 7:36 pm |
  24. arithmetic is liberal

    I love it.

    Let's fix the country with a power point!

    March 2, 2009 07:37 pm at 7:37 pm |
  25. catmom

    If McCain had run a decent campaign without the divisiveness and Sarah Palin he would have had a decent chance to win. Instead he let his base ruin him and his chance to be President. That being said, I for one am sick to death of hearing from him on any matter. It's as if he has all the answers. Face it McCain, the American people rejected you, your ideas and the Republican ideology. Get over yourself, you lost so how YOU would do something doesn't matter.

    March 2, 2009 07:38 pm at 7:38 pm |
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