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Yet Another Designed to Fail Commission!

From Washington's Blog: http://georgewashington2.blogspot.com/

We've heard this before, haven't we and is it any surprise? This time more people are beginning to catch on, especially the one's who've lost their homes....

From the very outset, the Financial Crisis Inquiry Commission was set up to fail.

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The investigations were further hampered by the requirement that subpoenas have bi-partisan approval along with Its decision to hold hearings with high profile individuals, including top Wall Street executives, before much in the way of lower-level investigation had been completed. The usual way to get meaningful disclosure from a top executive is to confront him with hard-to-defend material or actions; interrogations under bright lights, while a fun bit of theater, generally yield little in the absence of adequate prep.

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Recent reports that the panel urged various prosecutors to launch criminal probes were a hopeful sign that the commission might nevertheless come out with some important findings. But correspondence from insiders in the last few days suggests otherwise. One, for instance, wrote, “I’m still in the process of getting the stink out of my clothes.”

Read the Zelikow-esque report here: http://www.fcic.gov/

Inquiry Doesn't Call Crisis Systemic Fraud

Inquiry Doesn't Call Crisis Systemic Fraud

Thanks

Great title!

I thought it was pretty interesting that during the State of the Union Obama described his own response negatively:

"That's why we've ended the unwarranted taxpayer subsidies that went to banks, and used the savings to make college affordable for millions of students." (Applause.)
http://www.huffingtonpost.com/2011/01/25/obama-state-of-the-union-_1_n_8...

Too little too late! It was bizarre to hear that in the middle of his speech.

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An important observation from the blog that seems to be common in these types of reports:

"I participated in a blogger conference call with FCIC commissioners Phil Angelides and Brooksley Born. I’m clearly not cut out for public life. It was disconcerting to hear them thumping their talking points. For instance, Angelides began by saying that the purpose of the report was to explain why we faced the choice in 2008 of spending billions of dollars to bail out the financial system or let it fail. That’s a false dichotomy that serves to justify the unprecedented rescues. It implies that the only way the crisis could have been addressed was the course of action taken."
http://georgewashington2.blogspot.com/2011/01/inside-scoop-on-financial-...

Good point Vic. That this

Good point Vic. That this type of commission drama is systemic can serve the Truth Movement, hence I'm a little baffled why this didn't get placed on the news page. Like the 9/11 Commission Report, the out come of the FCIC was pre-ordained. As the financial collapse takes a greater toll on working Americans and our global brothers and sisters, bullshit like these commissions, is becoming more obvious as such. We are deluding ourselves by thinking that what is happening in Egypt right now, can't happen here. It will and it will be bloodier.