Financial Crisis Inquiry Commission/Report

[Chuck]

http://fcic-static.law.stanford.edu/cdn_media/fcic-reports/fcic_final_report_full.pdf



Has anyone read it? Is it worthwhile? Is it just government blaming private companies?



Your opinions are greatly valued

[sfca]

I remember this.  I mostly ignored it when it came out and just now skimmed the executive summary.  Rather what you would expect from government officials.  The fault is mostly the big bad evil banks.  Individuals who took out mortgages they could not afford were victims.  It does say us peasants had too much debt but we should be forgiven cause we did not know better and need to be protected.  The goverment failed mostly because they need more regulation.  The Fed did keep interest rates too low but that is not emphasized.  No fault of the CRA.  Its about as biased as if the report had been assigned to former Lehman staff to write.  You know you are not dealing with quality work when you see the phrase "newfangled mortgages."

[polysena]

I believe it has some historic interest, it documents on stuff that happened before my vintage arrival in finance (like triparty arrangements); it makes me feel that i am not the only one that understands nothing (apparently so top-guns bankers did not really figure it all out..); it helps you understand where do all these regulatory initiatives (shadow banks etc) take their inspiration... As to the who is to blame game.. I am agnostic.