Topic - Financial Crisis Inquiry Commission

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  • ** FILE ** Mortgage giants Fannie Mae and Freddie Mac (Associated Press)

    LAMBRO: Root cause of the mortgage mess

    The Democratic-run investigative panel's 600 page report on what caused the financial crisis was promptly thrown onto a dusty shelf late last month where most congressional inquires are soon forgotten.

  • ** FILE ** U.S. President Barack Obama signs the Dodd-Frank Wall Street Reform and Consumer Protection Act at the Ronald Reagan Building, July 21, 2010, in Washington, D.C. Also pictured (L-R) are Vice President Joseph R. Biden, Speaker of the House Nancy Pelosi (D-CA), Senate Majority Leader Harry Reid (D-NV), Rep. Maxine Waters (D-CA), Sen. Chris Dodd (D-CT) and Rep. Barney Frank (D-MA). (UPI/Win McNamee/Pool)

    RAHN: Government against the people

    Want more evidence that many government officials could not care less about protecting our person, property and liberty - which the American Founding Fathers saw as the basic purpose of government? Reports released this past week provided a bumper crop of evidence.

  • President Barack Obama, accompanied by Treasury Secretary Timothy Geithner, as he announces a new fee on big banks to recover up to $120 billion in taxpayers' money used to prop up corporations during the economic crisis, Thursday, Jan. 14, 2010, at the White House in Washington. (AP Photo/Charles Dharapak)

    BLANKLEY: Kangaroo court for the banks

    As a general rule, diagnosis should precede treat -ment, but last week, we saw in both the legislative and executive branches examples of the treatment-before-diagnosis" mentality. In Congress, the first hearing of the congressionally created Financial Crisis Inquiry Commission was held under the chairmanship of Phil Angelides, former California treasurer and former chairman of the California Democratic Party. The commission was "mandated" by law to report back to Congress by December 2010 "with a series of conclusions about what occurred, and recommendations as to how to avoid future market breakdowns. (Disclosure: I provide professional advice to some financial institutions.)

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