Tagged: Financial Crisis Inquiry Commission

Goldman executives questioned

The Congressionally appointed Financial Crisis Inquiry Commission exploring the 2008 crash questioned executives from Goldman Sachs, the world’s most profitable bank, about how much it makes trading derivatives — those complex financial bets that helped bring down the economy.  Goldman Chief Financial Officer David Viniar said they had no way of determining its derivatives data […]

Congress eyes credit-rating agencies

The Congressionally sponsored bipartisan Financial Crisis Inquiry Commission now has cast its eyes on the credit-rating agencies and the impact they may have had on the Great Crash of 2008.  Law Professor Elizabeth Nowicki, a veteran attorney from both Wall Street and the Securities and Exchange Commission, says the agencies are both hopelessly plagued by […]

Crisis panel probes bank “window dressing”

The Financial Crisis Inquiry Commission, which is looking into the causes for the 2008 economic crash, today questioned former executives from the investment bank Bear Stearns (sold to J.P. Morgan in a firesale after a run on the bank) and explored the open-secret of how Wall Street banks legally fudged their quarterly books to dress up […]

Fannie, Freddie execs ‘splainin’

Former executives from Fannie Mae and Freddie Mac, the goverment agencies whose mortage-loans holdings helped sink the economy, testified before the Congressional commission looking into the financial meltdown.  Mark Williams, who teaches finance at the BU School of Management and is author of  ”Uncontrolled Risk” about the fall of Lehman Brothers, says both agencies may have outlived […]

Financial crisis hearings resume

As the bipartisan Congressional commission looking into the financial meltdown resumes hearings, law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and former counsel to the Fed Board of Governors, stops to take a look at where we’ve come and where we might be going. “While ‘Alice in Wonderland’ tops the […]