Financial commission vice chairman urges plan for economic recovery

The vice chairman of the Financial Crisis Inquiry Commission Wednesday challenged Nevada leaders to develop a plan for economic recovery.

Steve Hill, past chairman of the Las Vegas Chamber of Commerce, told commission Vice Chairman William Thomas that Nevada leaders have decided to target business sectors for diversification of the economy. But Hill said Nevada leaders have not yet identified those sectors.

Thomas, former chairman of the House Ways and Means Committee, compared Nevada to his Bakersfield, Calif., area. Unlike Bakersfield, which is a small town in a large state, he said in Nevada, you "control your own destiny."

The commission, which includes local representatives Heather Murren and Byron Georgiou, heard testimony from U.S. Attorney Daniel Bogden and others about Nevada real estate.

There also will be a session on the impact of the financial crisis on government and financial services.

The commission is meeting at the University of Nevada, Las Vegas.