Thursday, July 16, 2009

Politicians Head Financial Crisis Probe

Congressional leaders announced the appointment of a commission to investigate the financial collapse. Ex-California politicians Phillip Angelides(D) will head the study group, Bloomberg reported:

When he ran for California governor in 2006, Angelides’s campaign received $578,521 in donations from people in the securities and investment industry.
Bill Thomas(R) will serve as Vice Chair.

Representative Thomas received $328,716 from securities & investment industry and $167,000 from commercial banks over his Congressional career.

The report is due December 15, 2010. Financial regulatory reform will likely be done. I smell a whitewash in the making. Will it be Katrina Lessons Learned worthy?

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