New commission panel investigating financial crisis
Friday, January 8th, 2010 at 6:54 pm
The FCIC or Financial Crisis Inquiry Commission is putting pressure on the top country bankers and regulators so they can testify under the oath. The two chairman’s Phil Angelides and Bill Thomas told the news in the interview conducted that commission is putting plans ahead to call upon the Treasury Secretary Timothy Geithner and the Reserve Chairman Ben Bernanke to fully comply and testify under the oath in the months to come.
The panel which was established during last year crisis started slow but is slowly shifting into high gear and starting to make impact on the major banks and regulators. The main focus of the panel will remain to be, developing a detail investigation report which is due for December this year and will show the main causes of the financial crisis.
Mr. Angelides who used to be a former California State Treasures briefly commented on the situation and said “There is anger and confusion across this country, and people want to know”. He also indicated that one of the goals that FCIC has is to become a proxy for the American people in turning around and finding what happened during the crisis. He additionally pointed out that the main emphasis is on gathering the proper facts and evidence to uncover what really happened, rather then focusing on any specific people.