Financial Crisis Panel Delays Report on Crash Amid Republican Opposition

http://www.bloomberg.com/news/2010-11-17/financial-crisis-commission-delays-report-to-obama-congress-until-january.html

The SEC needs to go. Had they actually been doing their job, the FCIC would have not been necessary.
The former chief account for the SEC, thinks the FCIC is a waste of money, what does that tell you kids?
Collusion with the banks!
To much dirty laundry has been laid out for all the world to see, for the idea of the FCIC to be a waste of money.
What I personally hope doesn't happen is the burying of the body parts under the brunt of to much bogus bullshit like was done in the 9/11 commission report.
It's time for the "oligarchs" to live up to and take credit for their personal obligations in the financial meltdown of this country.


Congress created the FCIC to investigate the causes of the 2008 financial crisis, which triggered the collapse of Lehman Brothers Holdings Inc. and led to U.S. bailouts for companies such as American International Group Inc. The panel, which has heard testimony from executives including billionaire Warren Buffett and Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein, has been beset by partisan disputes and staff departures throughout its 15-month existence.

‘Waste of Money’

“This has been a waste of money from the get-go,” said Lynn Turner, a former chief accountant at the U.S. Securities and Exchange Commission. Turner said he doubts the report “will really go out and nail anyone to the wall, so it likely doesn’t matter if it doesn’t come out until after hell has frozen over.”

The Financial Crisis Inquiry Commission's report delayed until January

http://www.huffingtonpost.com/2010/11/17/fcic-delays-report-angelides-powerful-interests_n_785205.html

Oh now, what up with the Republicans? It looks as though they actually don't want the truth to come out. I wonder why?
Collusion perhaps!


The bipartisan panel created to investigate the roots of the financial crisis voted Wednesday to delay the Dec. 15 publication of their report despite Republican opposition, foreshadowing disagreements that are sure to arise when the commission attempts to reach a consensus on the causes of the worst financial crisis since the Great Depression.

The crisis commission is also looking into the matter, said Phil Angelides, the panel's Democratic chairman. The Republicans on the panel are resisting further inquiries, according to people familiar with the matter. Angelides said in an interview that "there are very powerful interests" seeking to undermine the panel's investigation.

"People who have trillions of dollars at stake who have been watching our efforts closely," Angelides said. "There have been efforts throughout the year to undermine me and my fellow commissioners."

Grayson To FCIC: Increase Reserves

http://market-ticker.org/akcs-www?post=170995


Well it's a good thing Karl has such an excellent memory, coz I forgot all about that one.

Yeah, ok..... may I ask what reserves, given that Bernanke was given the ability to set them to zero in the TARP bill?

Goldman joins FCIC's dirty dozen

http://wallstreet.blogs.fortune.cnn.com/2010/06/07/goldman-joins-fcics-dirty-dozen/?source=yahoo_quote

First Warren now Goldman.
Why the non-compliance?
Just exactly what is it that they have to hide?
Or is it the simple fact that they think they are to important to have to be questioned for their actions?


The firm is the proud recipient of one of just 12 subpoenas issued by the Financial Crisis Inquiry Commission since its creation last year

The FCIC, the congressionally-appointed body charged with assembling an authoritative explanation for the financial meltdown by year-end, said Monday that it subpoenaed Goldman Sachs (GS) "for failing to comply with a request for documents and interviews in a timely manner."