Johnson Again Calls on McHenry to Attend Hearings on the Financial Crisis

Once again, Congressman Patrick McHenry is neglecting his duty and refusing to do his job for the people of North Carolina.

Tomorrow and Thursday, the House Committee on Oversight and Government Reform, of which Patrick McHenry is a member, will continue its hearings to investigate the roots of the current financial crisis. Daniel Johnson called on Patrick McHenry to attend these meetings.

"The taxpayers of Western North Carolina are paying the price for Wall Street's greed, and they need to know what happened," said Johnson. "Voters have many questions about how and why the current economic crisis occurred, and the only person who can go to Washington and ask those questions right now is Patrick McHenry. We deserve a Congressman who will do his job."

For several weeks, Republicans and Democrats on the Oversight and Government Reform Committee have been meeting to investigate the causes of the meltdown on Wall Street, and Patrick McHenry has not attended any of these sessions.

Tomorrow, the Committee will hold a hearing on credit rating agencies and their role in the financial crisis. On Thursday the Committee will examine the role of federal regulators. In previous hearings, the Committee has questioned executives at the failed companies Lehman Brothers and AIG.

Congressman McHenry has used his position on the Financial Services Committee to advocate for the subprime lenders at the root of the financial crisis, including a 2005 Charlotte Observer editorial in which he argued against "burdensome regulations" on the subprime market. According to the Center for Responsive Politics, McHenry has received over $820,000 from the financial services, insurance and real estate industry. McHenry campaign contributors include companies at the center of the crisis, including Freddie Mac, Fannie Mae, Bear Sterns, Countrywide, Washington Mutual and AIG.

Further details on the Committee's scheduled hearings on the financial crisis can be found at http://oversight.house.gov/.