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Financial Meltdown Was 'Avoidable,' Crisis Panel Finds

Posted 05.25.2011 | Business

WASHINGTON (By Dave Clarke) The financial crisis could have been avoided and was the result of poor decision making both in Washington and at top fi...

Shahien Nasiripour

Financial Crisis Panel May Recommend Wall Street Prosecutions

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

The bipartisan panel appointed by Congress to investigate the financial crisis has concluded that several financial industry figures appear to have br...

Issa the Inquisitor Goes to Hollywood

Richard (RJ) Eskow | Posted 05.25.2011 | Politics
Richard (RJ) Eskow

It's certainly ironic that Issa's first act as head of the committee that investigates misuse of government funds seems to have been... to misuse government funds.

Dictionary, Please: Wall Street's Wallison Doubles Down on Doublespeak

Richard (RJ) Eskow | Posted 05.25.2011 | Politics
Richard (RJ) Eskow

The Republicans on the Financial Crisis Inquiry Commission tried to undermine that group's work by attempting to ban phrases like "Wall Street" from its final report. Now they are trying to explain away their behavior.

If It's Incredible, Don't Believe It

Peter J. Wallison | Posted 05.25.2011 | Business
Peter J. Wallison

Only in the fever-swamps of the left could anyone believe that the Republicans on the FCIC sought to "ban" the words "Wall Street," "shadow banking," "interconnection," and "deregulation" from the commission's report.

Joe Nocera: GOP Members 'Explaining The Crisis With Dogma'

nytimes.com | JOE NOCERA | Posted 05.25.2011 | Business

But more recently, it has had to do with the growing tug of war between the commissioners over which financial crisis narrative would win out. The Rep...

Sell Your Soul to the Devil This Christmas

The 14th Banker | Posted 05.25.2011 | Business
The 14th Banker

Maybe it is time to buy bank stocks for the short ride, if you don't mind selling your soul.

Paul Krugman: 'Wall Street Whitewash' From GOP Crisis Panel Members

nytimes.com | PAUL KRUGMAN | Posted 05.25.2011 | Business

ast week, reports Shahien Nasiripour of The Huffington Post, all four Republicans on the commission voted to exclude the following terms from the repo...

Republican "Fifth Column" Strikes Financial Commission. Are YOU Next?

Richard (RJ) Eskow | Posted 05.25.2011 | Business
Richard (RJ) Eskow

A sleeper cell of four Republicans struck the Financial Crisis Inquiry Commission this week, escalating what had previously been a campaign of covert obstruction into an overt act of sabotage.

The Soviet GOP: There's Something Red About This Whitewash

Rob Warmowski | Posted 05.25.2011 | Politics
Rob Warmowski

Some younger readers might need a refresher course in the workings of a thing called the Soviet Union. Republican apologists for Wall Street are doing their best to provide one.

Shahien Nasiripour

Financial Crisis Panel In Turmoil As Republicans Defect; Plan To Blame Government For Crisis

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

The four Republicans appointed to the commission investigating the root causes of the financial crisis plan to bypass the bipartisan panel and release...

Shahien Nasiripour

FCIC Delays Report Despite Republican Opposition, Citing 'Very Powerful Interests' Seeking To Undermine Investigations

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

The bipartisan panel created to investigate the roots of the financial crisis voted Wednesday to delay the Dec. 15 publication of their report despite...

Shahien Nasiripour

Pandering To Clients, Firm Distances Itself From Wall Street Whistleblower's Testimony

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

When the former president and chief operating officer of Wall Street's foremost mortgage-loan due diligence firm testified under oath before a federal...

Shahien Nasiripour

New Proof Wall Street Knew Its Mortgage Securities Were Bad

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

During a little-noticed hearing this week in Sacramento, Calif., a firm hired by Wall Street to analyze mortgages given to borrowers with poor credit,...

Ben Bernanke's Summer Reading List

nytimes.com | SEWELL CHAN | Posted 05.25.2011 | Business

Ben S. Bernanke was an economist at Stanford and Princeton for more than two decades before he moved to Washington to 2002, first as a member of the F...

Shahien Nasiripour

Megabanks Will Shrink, Bernanke Tells Financial Crisis Commission, Yet Doubts Over Too Big To Fail Remain

HuffingtonPost.com | Shahien Nasiripour | Posted 09.02.2010 | Business

In one of his most definitive statements on the subject to date, the nation's central banker said Thursday that he expects some of the nation's megaba...

Bernanke Tells FCIC: 'Too Big To Fail' Problem Must Be Solved

Posted 05.25.2011 | Business

WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke told a panel investigating the financial crisis that regulators must be ready to shutter the ...

Bernanke Testifying Before Financial Crisis Panel

AP | MARCY GORDON | Posted 05.25.2011 | Business

WASHINGTON — Federal Reserve Chairman Ben Bernanke told a panel investigating the financial crisis that regulators must be ready to shutter the ...

Government Denied Lehman, But Bailed Out Other Wall Street Firms, Fuld Says

Posted 05.25.2011 | Business

WASHINGTON (AP, By Marcy Gordon) -- Federal bank regulators on Wednesday defended their actions leading up to the collapse of Lehman Brothers and the ...

Shahien Nasiripour

Two Top Investigators Leave Financial Crisis Commission

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

Two senior staffers have quietly left the Financial Crisis Inquiry Commission, a panel working under a tight deadline that has been dogged by rumors o...

Techno-Thriller: Why Was Goldman Sachs So Worried About One Nerdy Sentence?

Richard (RJ) Eskow | Posted 05.25.2011 | Business
Richard (RJ) Eskow

Why did Goldman Sachs bother making Antonio Garcia-Martinez delete this particular sentence, out of the reams of scandalous things said about them, and then contact Business Insider to deny that it was true?

Government Will Collect Royalties On Financial Crisis Commission's Report, Published By Little, Brown

The Washington Post | Jason Horowitz | Posted 05.25.2011 | Books

The government commission tasked with writing a public report to expose the causes of the financial crisis is keeping the structure of its own publish...

Where Are the Prosecutions? SEC Lets Citi Execs Go Free After $40 Billion Subprime Lie

Zach Carter | Posted 05.25.2011 | Business
Zach Carter

What is the penalty for bankers who tell $40 billion lies? Somewhere between nothing and a rounding-error on your bonus.

FCIC Threatens Goldman With Derivatives Audit

DailyFinance | MELLY ALAZRAKI | Posted 05.25.2011 | Business

While Goldman Sachs (GS) has settled Securities and Exchange Commission civil fraud charges over its Abacus synthetic collateralized debt obligation t...

Shahien Nasiripour

Geithner Admits Regulatory Failures, Reiterates Support For Empowering Regulators

HuffingtonPost.com | Shahien Nasiripour | Posted 05.25.2011 | Business

Treasury Secretary Timothy Geithner and the Federal Reserve's longest-serving top official reiterated their calls Thursday to rein in the nation's fin...