Financial Crisis

The Financial Crisis Inquiry Commission will release its report on the causes of the financial and economic crisis on Thursday, January 27, 2011. Let’s see if I can guess the major conclusions of the report:

  • The U.S. government failed in its role to appropriately regulate the financial services industry
  • Excessive risk-taking and corporate ineptitude on Wall Street
  • Substandard mortgage lending practices
  • Packaging and selling debt to investors
  • Gambling on securities backed by debt
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