In The News

Rep. Issa Opposes ‘Cap-and-Trade’ Energy Tax

Friday, June 26, 2009

WASHINGTON. D.C. –House Committee on Oversight and Government Reform Ranking Member Darrell Issa (R-CA) today released the following statement about his decision to vote against H.R. 2454, legislation that would create a national energy tax:
 
“By establishing a tax on the use of energy, this bill will send American jobs to China and raise the price of gasoline and electricity for American families,” said Rep. Issa.  “President Obama has explained correctly that cap-and-trade will cause electricity rates to ‘skyrocket’ and that increased costs to businesses will be passed on to consumers. This recession is an especially terrible time to raise the cost of energy when there are affordable solutions such as increasing the use of nuclear power to lower greenhouse gas emissions.”
 
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Bank of America/Federal Reserve: Who Is Telling the Truth?

Thursday, June 25, 2009

Federal Reserve Chairman Ben Bernanke today, in sworn testimony, told the House Oversight and Government Reform Committee in his opening statement:
I did not tell Bank of America’s management that the Federal Reserve would take action against the board or management if they decided to proceed with the MAC. Moreover, I did not instruct anyone to indicate to Bank of America that the Federal Reserve would take any particular action under those circumstances.
Chairman Bernanke’s statement stands in contradiction to other testimony and evidence gathered by the committee:
AP Account of 6/11/09 testimony of Bank of America CEO Ken Lewis:
Bank of America Chief Executive Officer Kenneth Lewis testified that the federal government threatened to remove board members at his bank if it reneged on a promise to acquire Merrill Lynch, despite Merrill Lynch's crumbling financial state.
 "What gave me concern is that they gave that threat to a bank in good standing," Lewis told the House Oversight and Government Reform Committee.
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Bank of America Ready to Turn Over ‘Countrywide VIP’ Documents if Majority Will Issue Subpoena

Wednesday, June 24, 2009

WASHINGTON. D.C. – On June 2, 2009, House Committee on Oversight and Government Reform Ranking Member Darrell Issa (R-CA) sent a letter to Bank of America CEO Ken Lewis requesting documents that would shed light on Countrywide’s infamous VIP program that was used to curry favor through sweetheart mortgage deals with Federal Government officials and Members of Congress who held responsibilities related to housing policy. Bank of America acquired Countrywide in 2008.
 
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Issa Weighs-in on Administration’s Roll-back of Union Transparency Requirements

Tuesday, June 23, 2009

WASHINGTON. D.C. – House Committee on Oversight and Government Reform Ranking Member Darrell Issa (R-CA), yesterday, in a letter to the Office of Labor-Management Standards of the U.S. Department of Labor objecting to plans to withdrawal a reporting rule for the nation’s largest labor organizations that offers union members an unprecedented level of transparency through which they can hold their union and its officers accountable.
 
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AIG Investigation Must Move Forward Without Interference from Treasury

Friday, June 19, 2009

WASHINGTON . D.C. – House Committee on Oversight and Government Reform Ranking Member Darrell Issa (R-CA) released the following statement today in response to a letter from Neil Barofsky, Special Inspector General of TARP, responding to inquiries from Republican staff of the House Committee on Oversight and Government Reform regarding SIGTARP’s position within Treasury:

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