Financial Fraud Prosecutions Sacrificed in Favor of Hit Jobs on Political Enemies

By: Tuesday September 4, 2012 9:43 am

Talking Points Memo picks up on Eric Schneiderman’s investigation of Bain Capital’s tax avoidance strategies, and asks a couple questions about why the New York Attorney General is probing something clearly within the purview of the IRS. “[W]hat the hell is the Attorney General doing here?” asked Ed Kleinbard, a tax expert at USC’s Gould [...]

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 [...]

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 [...]

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 [...]

FCIC: Financial Crisis Was Avoidable

By: Wednesday January 26, 2011 9:22 am

The Financial Crisis Inquiry Commission report is sure to provide a powerful reinforcement to the growing lack of faith in elites and especially the financial industry. Because they will outline, in painstaking detail, how the financial meltdown of 2008 was completely avoidable – the result of policy failure at the highest levels of government and [...]

FCIC Will Refer Report to Authorities for Potential Criminal Prosecution

By: Tuesday January 25, 2011 6:00 am

Shahien Nasiripour reports that the Financial Crisis Inquiry Commission will forward multiple individuals responsible for the financial meltdown to state and local authorities for potential criminal prosecution, in accord with the imminent release of their report. If we wanted to understand why Republicans on the commission suddenly begged off the report a month or so [...]

Volcker Blasts Banksters, Financial System in Impromptu Speech at Chicago Fed

By: Friday September 24, 2010 10:03 am

I wish Paul Volcker had a late-night show like Stephen Colbert so this speech could get the same kind of attention: Former Federal Reserve Chairman Paul Volcker scrapped a prepared speech he had planned to deliver at the Federal Reserve Bank of Chicago on Thursday, and instead delivered a blistering, off-the-cuff critique leveled at nearly [...]

FCIC Subpoenas Moody’s For Documents

By: Wednesday April 21, 2010 10:25 am

We seem to have slipped into an alternate universe where regulators and politicians get tough on the banksters and their allies. The SEC sued Goldman Sachs. Blanche Lincoln and the Senate Agriculture Committee passed a strong derivatives bill with support from Chuck Grassley. Federal Reserve regional bank presidents are talking about breaking up the banks. [...]

The Disappearing Financial Crisis Inquiry Commission

By: Tuesday April 6, 2010 9:30 am

I had high hopes for the Financial Crisis Inquiry Commission, an independent panel enacted by Congress to probe the origins and reasons for the financial crisis. Phil Angelides, the chairman, was a competent state Treasurer in California with a deep knowledge of these issues, and the parallels to the Pecora Commission in the 1930s, which [...]

Next Financial Crisis Inquiry Commission Hearings Include Greenspan, Rubin

By: Wednesday March 31, 2010 10:04 am

The Financial Crisis Inquiry Commission, the panel headed by former California State Treasurer Phil Angelides, designed to understand the origins of the financial crisis and offer recommendations for the future, has announced its next set of public hearings in Washington. Next Wednesday, Thursday and Friday, the FCIC will welcome such key people in the story [...]

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