Short answers, pulled from the story.
The Moynihan Commission, formally the Commission on Protecting and Reducing Government Secrecy, was a bipartisan statutory commission created under Title IX of the Foreign Relations Authorization Act for Fiscal Years 1994 and 1995 (P.L. 103-236). It was chaired by U.S. Senator Daniel Patrick Moynihan and issued its unanimous final report on the 3rd of March 1997.
VENONA was a classified U.S. program in which the Army Security Agency broke into Soviet espionage communications. A major effect of the Moynihan Commission was forcing the declassification of the VENONA project, which revealed that many Americans who had spied for the Soviet Union were never prosecuted because prosecution would have required disclosing what the government knew.
In 1994, the U.S. government was estimated to hold over 1.5 billion pages of classified material that were at least 25 years old. Senator Moynihan also reported that approximately 400,000 new secrets were being created annually at the Top Secret level alone.
The Commission found that secrecy is a form of government regulation, that excessive secrecy harms national interests by keeping policy makers uninformed and shielding government from accountability, and that protecting the most important secrets requires reducing the overall volume of classification. It also found that outside the Atomic Energy Act, federal law set no clear standard for what could be classified.
Members included former CIA Director John M. Deutch, former National Reconnaissance Office Director Martin C. Faga, Lockheed Martin executive Alison B. Fortier, Harvard professor Samuel P. Huntington, Clinton White House Deputy Chief of Staff John Podesta, Congressman Larry Combest (Vice Chairman), and legislators Lee H. Hamilton and Jesse Helms, among others.
On the 3rd of December 1953, President Eisenhower directed that a blank wall be placed between Oppenheimer and classified data. The Atomic Energy Commission suspended his clearance later that month and voted 4-to-1 on the 28th of June 1954 against restoring it. The Moynihan Commission examined this episode as part of its broader inquiry into how the Cold War security and loyalty programs operated.