John Doolittle: “yesterday, the chairman of the House Banking Committee, in answer to the question, ``Will hearings be held on the…”

“yesterday, the chairman of the House Banking Committee, in answer to the question, ``Will hearings be held on the Madison Guaranty Saving And Loan affair?'' replied, ``Yes, they will.'' That was the first good bit of news we have heard so far on this issue. Unfortunately, it was a short-lived moment. Later in the day, the chairman retracted his statement. Obviously, the Democrat leadership and the White House would rather keep the chairman off this case. We all know and respect the investigative abilities and dogged determination of the Banking Committee chairman, the distinguished gentleman from Texas. It seems to me that the Madison Guaranty Savings and Loan is a worthy subject to investigate. It had many ties to powerful politicians, it engaged in many questionable activities, and it cost the taxpayers a great deal of money. It is a shame that the chairman changed his mind on Madison. We need to have the Congress look into this matter for the good of the American taxpayer.”