The top Republican on the House Financial Services Committee is probing the job federal regulators, including Timothy Geithner, played in overseeing Lehman Brothers before it collapsed in 2008.
The committee is holding a hearing April 20 on Lehman Brothers following a 2,200-page report from a court-appointed examiner that detailed questionable accounting tactics at the firm and raised concerns about regulatory oversight. Geithner was the head of the Federal Reserve Bank of New York before being nominated as Treasury Secretary by President Barack ObamaBarack ObamaMellman: Rating the presidents Webb: The future of conservatism Moulitsas: Trump’s warped sense of reality MORE.
"The examiner's report also describes what appear to be significant failings on the part of officials at the Securities and Exchange Commission (SEC) and the Federal Reserve Bank of New York," Rep. Spencer BachusSpencer BachusSpencer Bachus: True leadership The FDA should approve the first disease-modifying treatment for Duchenne Muscular Dystrophy Study: Payday lenders fill GOP coffers MORE (R-Ala.), ranking member on the committee, wrote in a letter to the examiner on Thursday.
Bachus requested the examiner provide a lengthy list of interview summaries, notes, phone records, e-mails, documents and exhibits that went into the report and were with or from key current or former federal officials.
Among the officials are: Geithner; Ben Bernanke, Federal Reserve chairman; Scott Alvarez, general counsel at the Federal Reserve; and, Henry Paulson, former Treasury Secretary.