Angelides: Why No Prosecutions From Clayton Holdings Data?

By: Friday March 2, 2012 8:55 am

I want to turn back to Phil Angelides’ op-ed in the New York Times this morning, because in addition to making the case for bank accountability as a deterrent to future crimes, he says that the relevant authorities have had smoking gun evidence in their hands for two years. Meager resources have been applied to [...]

FCIC Referred Criminal Securities Fraud Violations to Justice Department a Year Ago

By: Monday January 30, 2012 11:39 am

A statement sent my way from Phil Angelides, the chairman of the Financial Crisis Inquiry Commission, plays into this debate over the RMBS working group in some interesting ways. The crux of the matter is that Douglas Holtz-Eakin, a Republican commissioner on the FCIC who did not sign onto the final report, made some statement [...]

DoJ, SEC Both Investigating S&P Over Ratings of Mortgage Backed Securities

By: Thursday August 18, 2011 7:11 am

Louise Story scoops that S&P is under DoJ scrutiny for their manipulation of the ratings process during the housing bubble. The Justice Department is investigating whether the nation’s largest credit ratings agency, Standard & Poor’s, improperly rated dozens of mortgage securities in the years leading up to the financial crisis, according to two people interviewed [...]

Republican FCIC Commissioners Shared Internal Documents with Outside Operatives

By: Wednesday July 13, 2011 1:20 pm

When Darrell Issa took over the House Oversight Committee, Democrats were nervous that he would use it as a launching pad to pummel the White House with frivolous investigations. It hasn’t really worked out that way. And now, he’s covering investigations up. Issa opened an inquiry last year into the Financial Crisis Inquiry Commission, which [...]

Asking Uncomfortable Questions Not a Matter of Left or Right

By: Monday February 7, 2011 12:56 pm

Here’s Politico being just dense (but I repeat myself): “We don’t see ourselves as left,” she told POLITICO. “And I think it’s one area where news consumers are ahead of the media, because they know that continuing to see everything that’s happening as a right-left issue is missing what’s happening, and is also making it [...]

The Next Financial Crisis: 2015?

By: Friday February 4, 2011 12:04 pm

I mentioned Bill Black’s look at financial fraud and how that sits at the heart of the crisis. A paper brought to my attention by Annie Lowrey about the next projected financial crisis of 2015 could provide an echo of that: In a paper presented last week at the World Economic Forum in Davos to [...]

Justice Department Confirms FCIC Referrals, Which Appear Related to Lack of Disclosure on Mortgage Bonds

By: Friday January 28, 2011 8:15 am

The Justice Department has confirmed that they have received criminal referrals from the Financial Crisis Inquiry Commission, but would not confirm how many referrals, how they will handle them, or what the timeline would be for any future actions. Justice Department Spokeswoman Elisa Spinelli said that the agency generally is not able to confirm or [...]

Brooksley Born of the FCIC: “We may well still be in a financial crisis”

By: Thursday January 27, 2011 12:27 pm

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 Goldman Sachs $2.9 Billion Heist of the Federal Treasury

By: Thursday January 27, 2011 10:29 am

A lot of people are talking about this report about how Goldman Sachs got an additional, undisclosed $2.9 billion from AIG that it promptly deposited into its own account. This is significant because previously, Goldman’s line was that they took billions in counterparty payments from AIG on behalf of its clients. But this reveals something [...]

Republican FCIC Dissent Remarkably Similar to Democratic FCIC Report

By: Thursday January 27, 2011 9:11 am

Let’s grapple with the dissent from the Republican members of the Financial Crisis Inquiry Commission. So often conservatives blame others for what they fail to acknowledge exists in themselves, and I think that’s true in this case. That said, let’s look at their initial reaction to the overall FCIC report. They interestingly try to argue [...]

Liveblog: FCIC Report Release

By: Thursday January 27, 2011 7:05 am

Phil Angelides has begun a press conference about the release of the Financial Crisis Inquiry Commission report. You can watch the release here. You can find the report here; you may have some problems getting in. Angelides says that he hopes the American people read the report. He said the mission was to record history [...]

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