The Financial Crisis Inquiry Report, Authorized Edition: by Financial Crisis Inquiry Commission

By Financial Crisis Inquiry Commission

Official executive version

The definitive record on what brought on America's monetary meltdown— and who used to be responsible

The monetary and monetary challenge has touched the lives of thousands of usa citizens who've misplaced their jobs and their houses, yet many have little knowing of the way it occurred. Now, during this very available record, readers can get the facts.
  • Formed in might 2009, the monetary hindrance Inquiry fee (FCIC) is a panel of 10 commissioners with event in company, rules, economics, and housing, selected via Congress to provide an explanation for what occurred and why it occurred. This panel has had subpoena energy that enabled them to interview humans and think about files that no reporter had entry to.
  • The FCIC has reviewed hundreds of thousands of pages of files, and interviewed greater than six hundred leaders, specialists, and contributors within the monetary markets and executive regulatory corporations, in addition to members and companies plagued by the crisis.
  • In the culture of The 11th of September fee document, The monetary trouble Inquiry Report might be a accomplished booklet for the lay reader, entire with a thesaurus, charts, and easy-to-read diagrams, and a timeline that incorporates vital occasions. it is going to be learn via coverage makers, company executives, regulators, executive firms, and the yank people.
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Extra resources for The Financial Crisis Inquiry Report, Authorized Edition: Final Report of the National Commission on the Causes of the Financial and Economic Crisis in the United States

Sample text

6 billion in liabilities and was borrowing as much as $70 billion in the overnight market. 6 million, with $296,750 of that due each and every day. ” when it seems that too many of them were thinking alike. And the leverage was often hidden—in derivatives positions, in off-balance-sheet entities, and through “window dressing” of financial reports available to the investing public. The kings of leverage were Fannie Mae and Freddie Mac, the two behemoth government-sponsored enterprises (GSEs). For example, by the end of 2007, Fannie’s and Freddie’s combined leverage ratio, including loans they owned and guaranteed, stood at 75 to 1.

Wilmarth, Jr. Alice Falk Girija Natarajan Sarah Zuckerman Megan L. ” In this report, the Commission presents to the President, the Congress, and the American people the results of its examination and its conclusions as to the causes of the crisis. More than two years after the worst of the financial crisis, our economy, as well as communities and families across the country, continues to experience the aftershocks. Millions of Americans have lost their jobs and their homes, and the economy is still struggling to rebound.

Ingoglia Ryan Thomas Schulte Sylvia Boone Ben Jacobs Lorretto J. Scott Tom Borgers Peter Adrian Kavounas Skipper Seabold Ron Borzekowski Michael Keegan Kim Leslie Shafer Mike Bryan Thomas J. Keegan Gordon Shemin Ryan Bubb Brook L. Kellerman Stuart C. P. Shroff Troy A. Burrus Sarah Knaus Alexis Simendinger R. Richard Cheng Thomas L. Krebs Mina Simhai Jennifer Vaughn Collins Jay N. Lerner Jeffrey Smith Matthew Cooper Jane E. Lewin Thomas H. Stanton Alberto Crego Susan Mandel Landon W. Stroebel Victor J.

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