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Posts Tagged ‘FCIC report’

FCIC Report: Wall Street and Washington Failed America

Posted by Larry Doyle on January 28th, 2011 7:16 AM |

A multiple trillion dollar loss emanates from Wall Street and no crimes are committed? Will any form of real justice ever be served? Will those who facilitated and enabled this crisis to unfold ever be singled out? Are there individuals on both Wall Street and in Washington who just exhaled thinking, “We got away with it.”

The report released yesterday by the Financial Crisis Inquiry Commission highlights that Wall Street and Washington collectively failed our nation. Specifically the FCIC writes on page 23:

We do place special responsibility with the public leaders charged with protecting our financial system, those entrusted to run our regulatory agencies, and the chief executives of companies whose failures drove us to crisis. These individuals sought and accepted positions of significant responsibility and obligation. Tone at the top does matter and, in this instance, we were let down. No one said “no.”

How is it that these ‘supposed leaders’ failed to perform? (more…)

Will the Financial Crisis Inquiry Commission ‘Name Names’?

Posted by Larry Doyle on January 26th, 2011 9:25 AM |

Tomorrow the Financial Crisis Inquiry Commission will release its widely anticipated report investigating the causes of our financial crisis. While many on Wall Street would like to promote the fact that the financial crisis was nothing more than ‘the perfect storm,’ we know that is not the case. The New York Times has received a preview of the FCIC’s report and highlights the fact that the Financial Crisis Was Avoidable, Inquiry Finds,

The 2008 financial crisis was an “avoidable” disaster caused by widespread failures in government regulation, corporate mismanagement and heedless risk-taking by Wall Street, according to the conclusions of a federal inquiry. (more…)






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