Issa & the FCIC

Via Paul Krugman, it looks like Rep. Darrell Issa is seeking to investigate the Financial Crisis Inquiry Commission for corruption, citing high staff turnover and conflict of interest.

Monday is the deadline set by Darrell Issa, the Republican chairman of the House oversight committee, for Phil Angelides, chairman of the commission, to provide financial information and e-mail records to allow a congressional investigation of the investigators.

Mr Issa says he wants to check that taxpayers got value for money in the investigation and to examine any potential conflicts of interest, the high staff turnover, requests for more funding and the breakdown in relations between Republicans and Democrats

But if there’s any value in Issa looking into the FCIC, minority member Peter Wallison seems actually like a valid target. Mike Konczal writes:

This report is exactly what he believed in 2009. Think about this. We paid this guy at a level IV of the Executive Schedule, which is a juicy six-figure salary, for the days he worked. He had a staff, subpoena power, researchers, documents, access, interviewers. And he ultimately had a responsibility to be an investigator. And his final product is a handful of AEI white papers from 2009 stapled together. If there is new evidence from his investigations I didn’t see it on the first pass. He could have not been on the FCIC, we could have put in a conservative who was serious about getting to the bottom of what’s broken with our financial system, and Wallison could have written the same exact thing on his own.

I don’t presume that there’s nothing for Issa to investigate about the FCIC. But if he’s honest, he’d start with this glaring report from Wallison. Somehow, though, I doubt that this Republican attack dog will sink his teeth into the actions of Republican members of the FCIC.

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