Today, the Financial Crisis Inquiry Commission — the bipartisan panel examining the causes of the financial crisis that plunged the country into recession — is up with another round of hearings. The FCIC is due to complete a comprehensive report, à la the Pecora Commission that studied the 1929 More…
I’ll have a story up soon on today’s testimony from Warren Buffett, the head of investment giant Berkshire Hathaway, to the Financial Crisis Inquiry Commission on the role of credit rating agencies in the financial crisis and recession.
But here’s one nugget. Brooksley Born, the former head of the Commodity More…
Fortune has a great story up: The Financial Crisis Inquiry Commission requested that Warren Buffett, the head of investment giant Berkshire Hathaway, come testify. He declined. The panel — charged with investigating the causes of the financial crisis and known for its aggressive and public grilling of Wall Street More…
Today, the Financial Crisis Inquiry Commission continues its fourth round of hearings on the origins of the recession, with the current and former Treasury secretaries, Timothy Geithner and Henry Paulson, speaking on the shadow banking system — comprising financial companies like Goldman Sachs that are technically not banks because they More…
Testifying to the Financial Crisis Inquiry Commission, former Fed Chairman Alan Greenspan and former Citigroup executives Robert Rubin and Charles Prince passed the buck. Rubin and Prince said they could not have understood Citigroup’s extraordinary exposure to the housing market or recognized the risk the bubble posed any earlier. More…
This morning, the Financial Crisis Inquiry Commission heard from Robert Rubin and Charles Prince, the former heads of banking behemoth Citigroup.
Prince opened his remarks with regrets. “I’m sorry,” he said. “I’m sorry the financial crisis has had such a devastating impact for our country. I’m sorry about the More…
Yesterday, New York Times business columnist Andrew Ross Sorkin suggested that members of the Financial Crisis Inquiry Commission — the panel charged with investigating the causes of the Great Recession — drill Goldman Sachs CEO Lloyd Blankfein over the firm’s strategy of selling bundled mortgages to other investors at More…
The Financial Crisis Inquiry Commission (FCIC) is acting under a legal mandate to investigate the “causes of the collapse of each major financial institution” that failed or received a government bailout in the panicked days of last fall — and the FCIC intends to act quickly, Chairman Phil Angelides said More…
The 10 members of the panel named by Congress to investigate the causes of last year’s economic implosion appear to be wrestling with their role in this year’s push for financial industry regulatory reform, judging from their statements at today’s first hearing.
Brooksley Born, who fought unsuccessfully to regulate derivatives More…
The 10-member commission appointed by Congress to investigate the causes of the nation’s financial meltdown holds its first meeting this morning. But with momentum for stronger regulation of Wall Street slowing and New York emerging as the center of bailout accountability, the commission may More…
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