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