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Old 05-08-2009, 05:29 PM
moh malekpour moh malekpour is offline
 
Join Date: May 2002
Location: Southern California
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Default Congress Weighs O’Connor, Volcker, Levitt to Investigate Crisis

http://www.bloomberg.com/apps/news?p...Qpo&refer=home
Quote:
Retired Supreme Court Justice Sandra Day O’Connor, former Federal Reserve Chairman Paul Volcker and former Securities and Exchange Commission chief Arthur Levitt are among those being considered by congressional leaders to head a probe of the financial crisis, people familiar with the matter said.

Discussions over who will chair the investigation are intensifying as lawmakers near agreement on the outlines of a panel to investigate the roots of the crisis, said the people, who declined to be identified before a decision is made. The commission is likely to have the power to subpoena witnesses and spend more than a year delving into the issue.

“Whoever investigates this is going to have to dig way below the surface and get to the bottom of what caused all these problems,” said Charles Geisst, a finance professor at Manhattan College in New York and author of a history of Wall Street. “If you don’t get someone who has a big name and a good reputation, it sends a signal that you are just going through the motions.”

Lawmakers have cited a groundswell of voter anger at providing a $700 billion rescue package for the same industry that caused the credit crunch in demanding an inquiry. The investigation is likely to identify names of those judged responsible, with public hearings on Capitol Hill, and may shape an overhaul of financial regulation, the people said
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Old 05-08-2009, 06:15 PM
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Caligirl Caligirl is offline
 
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Are there going to be any meaningful consequences? If not-SAVE THE MONEY WE DON'T WANT TO PAY FOR A DOG AND PONY SHOW.
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Old 05-08-2009, 07:54 PM
Randolph Kinney Randolph Kinney is offline
 
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Just another 9-11 commission to exonerate the politicians and their cronies.
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