Financial Crisis Panel Names Names
Chairman Phil Angelides and the five other Democrats on the 10-person Financial Crisis Inquiry Commission have released their devastating report, which blames former Fed Chair Alan Greenspan, former Treasury Secretary Henry Paulson, current Treasury boss and former New York Fed Chair Timothy Geithner and the financial gimmick marketers of Goldman Sachs, among others, for the economic meltdown.
Read the full report here.
Its report highlighted excessive risk-taking by banks and neglect by financial regulators.
Only the six Democrat members of the 10-strong commission, set up in May 2009, endorsed the report’s findings.
“The crisis was the result of human action and inaction, not of Mother Nature or models gone haywire,” the report said.