Financial Crisis Commission Is NOT Living Up To Its 1930s Counterpart: Rolfe Winkler

Ferdinand Pecora turned a tame United States investigation of the 1929 Crash into an expose that spawned far-reaching banking reform. Despite flashes of incisiveness from Chairman Phil Angelides, the Financial Crisis Inquiry Commission's debut with Wall Street bosses Wednesday lacked that kind of promise. It's early days, but the panel needs to sharpen up.

Read the whole story: Reuters

Comments

[werskewed]

09:43 PM on 01/17/2010

According to a report by the Center for Responsive Politics, 3.33 Billion dollars was spent to lobby congress in 2009.

My calculator says that works out to $6,224,299 each for our 435 Representatives and 100 Senators.........Annually.

Do you think this might have some small effect on their decisions?

[yourmomscalling]

08:34 PM on 01/16/2010

SMOKE AND MIRROR SHOW STEP RIGHT UP FOLKS AND TAKE A LOOK AT OUR TAXPAYER DOLLARS BEING FLUSHED DOW THE TOILET !!!!!

APPOINTED BY OUR GREAT SO CALLED PRESIDENT BAMBI !!!

[spinns17]

12:40 PM on 01/15/2010

if you do look at the glb act link .you will see that the goverment did fail us on the oversight .

[spinns17]

12:42 PM on 01/15/2010

http://banking.senate.gov/conf/

[spinns17]

12:34 PM on 01/15/2010

this is nothing but a dog and pony show.time to take to the streets my fellow americans.if they cant give us change ,we have to take it.

[nopilikia]

06:39 PM on 01/14/2010

It (Congress) can't live up to it's 1932 counter-part, because it (Congress) would have to admit it (Congress) started this whole mess with passage of Gramm-Leach-Bliley Act of 1999. And when enough average Americas take the time to google and read the GLB Act the least of their worries would be being voted out of office. For when you read the Act one word comes to mind. Treason, a crime that undermines the offenders government.

[spinns17]

12:32 PM on 01/15/2010

http://banking.senate.gov/conf/

[lightningbolt]

04:44 PM on 01/14/2010

I want to see the Financial Crisis Commission asking very tough questions. If they don't ask very tough questions, the people will have no confidence in the commission.

[lightningbolt]

04:43 PM on 01/14/2010

This commission won't get anything significant accomplished because of BRIBERY!!! As long as bribery (lobbying, private campaign finance) remains legal, most elected officials will serve those who pay the bribes.

[stormgazer]

03:40 PM on 01/14/2010

Did anyone expect this commision to come out swinging? Of course they were going to softball them, they need their campaign contributions....

[my whitehouse]

02:42 PM on 01/14/2010

it would be considerate if huffingt00n p0st would remove the market quote widget because all it does is remind us of how poor we are compared to the bankers & elite who ripped us off. maybe when the market starts crashing the huffint0n p00st can put it back up.

hat tip to http://iamned-website.blogspot.com

[blood1]

02:09 PM on 01/14/2010

It was sad to watch / listen to the statements by the Wall Street Investment heads. When asked a real question (albeit rare), the dragged out the smoke and mirrors to talk to their own P/L statements and never really answered any questions.

[jwatz]

12:16 PM on 01/14/2010

Everyone on the Commission hopes to make the jump to the Banking Industry. This is just a reverse job interview.

[FoonTheElder]

11:44 AM on 01/14/2010

90% of Congress is owned by Wall Street. There is no way they will bite the hand that feeds them. That is why the Commission is nothing but another empty show so Congress and Washington can say that they did something, when they actually did nothing.

[lightningbolt]

04:41 PM on 01/14/2010

Very similar to the 9-11 commission.

[my whitehouse]

11:30 AM on 01/14/2010

There is no economic recovery with 10% unemployment and lack of affordable education & healthcare.
hat tip to http://iamned-website.blogspot.com

[vippy]

01:37 PM on 01/14/2010

One out of six does not have a job, that is a heck of a lot more people unemployed that the silly 10% the government feeds us.