FCIC report: US crisis inquiry splits along party lines
Republican members of panel issue two inconsistent dissenting reports
Highlighting the degree to which the response to the financial crisis has become a party-political issue, the 10-strong Financial Crisis Inquiry Commission (FCIC) today issued three separate reports into the origins of the crisis. Only six commissioners, including chair Phil Angelides, signed the FCIC's 662-page official report. It concluded that the crisis could have been avoided, and was the result of a combination of failures in regulation – in particular of the mortgage market – breakdowns
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