The Financial Crisis Inquiry Commission’s Final Report: Five years ago this week, the Financial Crisis Inquiry Commission (FCIC), which conducted the nation’s official inquiry into the causes of the financial and economic crisis of 2008, made public the results of its investigation. On January 27, 2011, the FCIC presented its final report to the President … Continue reading
Statement by Phil Angelides Chairman of the Financial Crisis Inquiry Commission (2009-2011) Re: “Was This Whistle-Blower Muzzled?” On Sunday, September 22, The New York Times printed “Was This Whistle-Blower Muzzled?”, an article by William Cohan alleging that the Financial Crisis Inquiry Commission (FCIC) caved in to pressure from Citigroup and suppressed allegations about Citigroup’s misconduct … Continue reading
Five years ago today, financial contagion and panic spread as investors withdrew hundreds of billions of dollars from money market funds and as insurance giant AIG, brought down by its disastrous credit default swap and securities lending bets, was rescued with a taxpayer bailout of $85 billion – a bailout that would eventually grow to … Continue reading
Five years ago today, the nation plummeted into financial panic as Lehman Brothers filed for bankruptcy and other major financial institutions teetered on the edge of collapse. September 14th and September 15th of 2008 presaged a sweeping and massive bailout of Wall Street and a downward spiral that would leave our country economically wounded for … Continue reading
Five years ago this week, the financial system came unhinged due to years of recklessness on Wall Street and regulatory neglect in Washington. The American people paid a terrible price – persistent and widespread unemployment, millions of foreclosures, and household wealth and retirement savings wiped away. Yet, little, if anything, has changed on Wall Street … Continue reading
Scott Wapner and Michelle Caruso-Cabrera of CNBC’s Closing Bell interview Phil Angelides on the 5th Anniversary of the financial crisis and discuss his thoughts on the selection of the next Chair of the Federal Reserve (Janet Yellen vs. Larry Summers). Click here to watch.
Five years ago this week, the financial system unraveled due to recklessness on Wall Street and regulatory failures in Washington. The American people paid a terrible price – persistent and widespread unemployment, millions of foreclosures, and household wealth and retirement savings wiped away. Yet, little, if anything, has changed on Wall Street and the biggest … Continue reading
August 6, 2013 – Andrew S. Ross of the San Francisco Chronicle reports: Judgment calls. In this corner we have Janet Yellen, former UC Berkeley professor, former CEO of the San Francisco Federal Reserve Bank and current Vice Chair of the Board of Governors of the Federal Reserve System in Washington. In the other corner, we have Lawrence Summers, former president of Harvard University, … Continue reading
November 28, 2012 – Phil Angelides, former chairman of the Financial Crisis Inquiry Commission, talks about a lawsuit brought by New York Attorney General Eric Schneiderman accusing Credit Suisse Group AG for deceiving investors in mortgage-backed securities that were sold before the financial crisis. Angelides, speaking with Mark Crumpton on Bloomberg Television’s “Bottom Line,” also … Continue reading
August 18, 2012 – Op-Ed by Phil Angelides featured in the San Francisco Chronicle. Money laundering. Price fixing. Bid rigging. Securities fraud. Talking about the mob? No, unfortunately. Wall Street. These days, the business sections of newspapers read like rap sheets. GE Capital, JPMorgan Chase, UBS, Wells Fargo and Bank of America tied to a … Continue reading
Phil Angelides 