Dodd Announces Madoff Hearing for Tuesday

The Senate Banking, Housing and Urban Affairs Committee will hold a hearing next Tuesday investigating the case of billionaire Ponzi schemer Bernie Madoff, committee Chairman Chris Dodd (D-Conn.) announced today.

At the hearing, which is to be held at 10 a.m., the committee will "examine what went wrong in the case of Madoff Investment Securities, with a focus on the performance of federal regulators who are expected to police such firms and what can be done to prevent such frauds from occurring in the future," according to Dodd's announcement.

Dodd and Ranking Member Richard Shelby (R-Ala.) requested documents from the Securities and Exchange Commission on the Madoff case earlier this month, announcing they would investigate.

Witnesses for the hearing have not yet been announced.

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