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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