March 17, 2010

WASHINGTON - House Financial Services Committee Ranking Member Spencer Bachus today sent a letter to Chairman Barney Frank requesting a hearing on revelations reported by the Lehman Brothers' court appointed bankruptcy examiner and the failure of government regulators to act on evidence of accounting gimmicks used to hide the company's debt and mask its insolvency.  

"This report casts additional doubts on the ability of the Federal Reserve to effectively perform the expanded supervisory responsibilities called for in House and Senate regulatory reform bills," Bachus said.    

Click here to view the letter to Chairman Frank.