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This week the commission to investigate the causes of the financial crisis will hold its first public hearing. First up to be accused of causing massive foreclosures, nearly bankrupting our financial system and robbing us all of our retirement savings: Wall Street CEOs. On Wednesday, four top financial executives are...
Washington commissions and hearings are often yawn-inspiring affairs. But this one, officially called the Financial Crisis Inquiry Commission (FCIC), could trigger some fireworks in part because of the severe damage caused by the financial-industry meltdown. What's more, the commission's chair Phil Angelides, a Democrat and former...
Even though the bankers are first up, the FCIC won't stop there in heaping the blame. Congress set up the commission early last year with a mandate to investigate 22 possible things, from mortgage fraud to global savings imbalances, that could have either caused the financial crisis or made...
Nonetheless some observers say commissions like the FCIC tend to underwhelm. James Madison University political-science professor Glenn Hastedt, who has written about the 9/11 commission, says politicians shouldn't wait for the FCIC to come up with its conclusions before enacting financial reforms. He says the 9/11 commission did...
It remains to be determined who is really at fault in this week's incident, but one thing is sure: the so-called whale war is not over. Watson's bluster and aggressive tactics may have earned Sea Shepherd a reality television show (and a parody on South Park), but...