GOP investigative hearing to probe bailouts

WASHINGTON (AP) — The House's major investigative committee will explore financial bailouts and the foreclosure crisis on Jan. 26, in the panel's initial hearing this year.

Chairman Darrell Issa, of the Oversight and Government Reform Committee, invited special inspector general Neil Barofsky and Treasury Secretary Timothy Geithner to testify.

Barofsky has investigated failures in the government's financial bailout program and problems with the Obama administration's Home Affordable Mortgage Program to alleviate foreclosures.

The inspector general's next quarterly report is to be released the day of the hearing. It was not immediately clear whether Geithner will testify or send subordinates.

Issa said the bailout program began under a Republican administration and now operates under a Democratic president.

He said, "It's a fitting subject for bipartisan oversight."