Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

In May 2009, President Obama signed the Fraud Enforcement and Recovery Act of 2009

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » General Discussion Donate to DU
 
ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-27-11 01:11 AM
Original message
In May 2009, President Obama signed the Fraud Enforcement and Recovery Act of 2009
The law established the Financial Crisis Inquiry Commission.

In the wake of the most significant financial crisis since the Great Depression, the President signed into law on May 20, 2009, the Fraud Enforcement and Recovery Act of 2009, creating the Financial Crisis Inquiry Commission. The Commission was established to "examine the causes, domestic and global, of the current financial and economic crisis in the United States."

The 10 members of the bi-partisan Commission, prominent private citizens with significant experience in banking, market regulation, taxation, finance, economics, housing, and consumer protection, were appointed by Congress on July 15, 2009. The Chair, Phil Angelides, and Vice Chair, Bill Thomas, were selected jointly by the House and Senate Majority and Minority Leadership.

The FCIC is charged with conducting a comprehensive examination of 22 specific and substantive areas of inquiry related to the financial crisis. These include:

<...>

In its work, the Commission is authorized to hold hearings; issue subpoenas either for witness testimony or documents; and refer to the Attorney General or the appropriate state Attorney General any person who may have violated U.S. law in relation to the financial crisis.

On November 17, 2010 the Commission resolved, by majority vote, to deliver its report in January 2011, rather than on December 15, 2010. The Commission will conclude its operations by February 13, 2011, as prescribed.


The commission's report on what caused of the financial crisis is due today.


Printer Friendly | Permalink |  | Top
ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-27-11 01:30 AM
Response to Original message
1. No comment? n/t
Printer Friendly | Permalink |  | Top
 
ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-27-11 02:28 AM
Response to Original message
2. Interesting that this is being ignored. n/t
Printer Friendly | Permalink |  | Top
 
leftstreet Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-27-11 02:34 AM
Response to Original message
3. Here's a pic of the Commission's Findings



:o
Printer Friendly | Permalink |  | Top
 
ProSense Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-27-11 02:40 AM
Response to Reply #3
4. Just think
that picture wouldn't exist without the commission establish by the President.

Sure everyone knew or had a feeling, but they didn't have the picture.

One piece characterized it this way:

"The reason so many people have lost faith in elites is because they see a country operating without a rule of law, with rogue criminals still working at major banks across the country and a two-tiered system of justice depending on your power and influence. The FCIC report will provide powerful proof of this."

Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Tue May 21st 2024, 03:24 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » General Discussion Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC