FCIC Report | An Examination of Attacks Against the Financial Crisis Inquiry Commission

EXECUTIVE SUMMARY

In the wake of the most severe economic crisis since the Great Depression, Congress established the Financial Crisis Inquiry Commission in May 2009 to “examine the causes, domestic and global, of the current financial and economic crisis in the United States.” There were ten Commissioners, including six Democrats and four Republicans, led by Democratic Chairman Phil Angelides and Republican Vice Chairman Bill Thomas.

In July 2010, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. Based on testimony from former Federal Reserve Chairman Alan Greenspan and others that there had been deficient regulation of the financial markets leading up to the crisis, the Dodd-Frank Act included significant new protections for consumers of financial products.
House Republicans voted almost unanimously against the Dodd-Frank Act. On the day it passed the Senate, then-House Minority Leader John Boehner stated: “I think it ought to be repealed.” Since then, House Republicans have been aggressive in their efforts to repeal the Act and prevent its protections from being implemented.

On July 27, 2010, then-Ranking Member Issa announced an investigation into the activities of the Commission. In a letter to Chairman Angelides, Ranking Member Issa wrote that, although he had hoped that the Commission would “be able to conduct a fair and effective investigation which would help Congress as it considered financial regulatory reform legislation,” he was launching his investigation in part because “the Administration and congressional Democrats have instead chosen to ram through a partisan financial regulation bill before the FCIC has completed its work.”

Ranking Member Issa made a number of allegations focused almost exclusively on Democratic Commissioners and staff. He asserted that “potential financial mismanagement” caused the Commission to “run out of money”; that “commissioners and staff of the FCIC may have conflicts of interest”; that some senior staff had “extensive ties” to “partisan Democrat politics”; and that the decision to delay the Commission’s final report by a month and a half was caused by “continued management problems.”

As part of Chairman Issa’s investigation, he requested a wide range of internal Commission documents. In response, the Committee has now obtained more than 400,000 e-mails, memoranda, draft reports, and other documents from both Democratic and Republican Commissioners and staff.

These documents indicate that Chairman Issa’s allegations are largely unsubstantiated, and this report addresses each allegation in turn. In contrast, the documents raise significant new questions about whether Republican Commissioners geared their efforts on the Commission toward helping House Republicans in their campaign to repeal the Dodd-Frank Act, rather than determining the facts that led to the economic crisis. The documents also raise a host of new ethical questions about Republican Commissioners and staff, including evidence that they leaked confidential information to outside parties on multiple occasions.

Full report below…

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4closureFraud.org

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An Examination of Attacks Against the Financial Crisis Inquiry Commission

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Comments
4 Responses to “FCIC Report | An Examination of Attacks Against the Financial Crisis Inquiry Commission”
  1. Fighting till I die says:

    What I can’t understand is, these problems have been known for years, and absolutely nothing has changed. Millions are homeless, and the very same homes that they were thrown out of, are just about run down into the ground, and for what? What conceivable reason would the Laws be based to condone this kind of societal suicide. People are being destroyed by industry, and people wont revolt?
    Since when does the scales of justice weigh more in the favor of industry over humans and children?
    “WE THE PEOPLE” are the too big to fail, not the industry that is causing this purposeful act of destruction.
    Just like BP, do any one here actually think what BP stands for? British Petroleum. The first word should give you a hint of who is actually behind the problems of that era. For Gods sake, Almost every large industry has a bloodline leading back to England, and me thinks England is trying to take back the people who escaped from their clutches. Even the History books are being manipulated to lie about actual History if it is in the best interest of the elite.

  2. Fighting till I die says:

    I will say it again………………..You can’t put a wolf in charge of the chicken coop to protect that whch he himself wants. Money is not any different then food, it is desired and some will kill to get it.

  3. Jason Werner says:

    This woman has been under constant attacks: She is the FDIC whistleblower:
    https://www.facebook.com/profile.php?id=1173331318&sk=info

    from her fb page …

    Basic Information
    About Yolanda Federal Whistleblower. Exposed FDIC (Federal Deposit Insurance Corporation) Bank, Receivership, Money Laundering, Fraud. Type FDIC NSA into Google or Yahoo. Check out my book at http://www.lulu.com Caught In A Web of Bureaucracy

    Here’s info about her book:
    “Caught in a Web of Bureaucracy” Yolanda Gibson-Michaels entered on duty with the United States Federal Government on August 2, 1981. September 1989 – Yolanda merged with the Federal Deposit Insurance Corporation (FDIC) from Federal Home Loan Bank Board (FLSIC). Yolanda was highly respected among her colleagues and friends. Yolanda begun her journey from an outstanding career in the U.S. Civil Service to being Caught In A Web of Bureaucracy of Fraud, Deception, Impropriety, and Corruption (hereafter the Federal Deposit Insurance Corporation (“FDIC”)). A journey that begun with the exposure (Whistle blowing) of the FDICs Receivership, Bank, Inside Trading, Money Laundering and Signatory to the infamous Kenneth Lay “E

  4. leapfrog says:

    Hahaha…jackwagons.

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