Following the release of a staff report that the companies complied with accounting rules, Congressman Henry Waxman (D-Cal.) has called off the hearing that would have required a number of CEOs to explain why they had reported large losses due to a provision in the health reform law that would reduce tax deductions for retiree drug benefits (see The Waxman Inquisition). The mainstream media will almost certainly give far less attention to the cancellation than they gave to the announcement of the hearing.