The financial crisis is prompting lawmakers to focus on market failures during the recess.

The Senate Banking Committee plans to hold a hearing Thursday on the genesis of the crisis, and the House Financial Services Committee plans to look at regulatory restructuring in a hearing Oct. 21.

The witnesses expected to testify before the Banking Committee include Arthur Levitt Jr., a senior advisor for Carlyle Group; Eugene Ludwig, the chief executive officer of Promontory Financial Group LLC; Jim Rokakis, the treasurer of Cuyahoga County, Ohio; Marc Morial, the president and CEO of the National Urban League; and Eric Stein, senior vice president of the Center for Responsible Lending. Witnesses for the Financial Services Committee hearing have not been named.

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