In a sometimes contentious call, Financial Crisis Inquiry Commission representatives Phil Angelides and Brooksley Born acknowledged that we might still be in a financial crisis, and that their report should not be seen as the last word on an event that still has the capacity to significantly damage the global economy. Brooksley Born, who as [...]

The Financial Crisis Inquiry Commission has been something of a disappointment, but today’s hearing on credit rating agencies yielded at least two nuggets of great information. First, there was this testimony from a former top director at Moody’s, one of the three big kahnuas in the rating agency world: Eric Kolchinsky, a managing director overseeing [...]

At today’s Financial Crisis Inquiry Commission hearing, Brooksley Born, the former head of the Commodity Futures Trading Commission, declared Alan Greenspan’s tenure at the Federal Reserve an unmitigated failure – to his face. Greenspan accords a certain degree of respect on Capitol Hill, despite Born’s accurate take on his many failures, and so this outburst [...]