Here are some early reactions to the the first hearing, now underway, of the Financial Crisis Inquiry Commission in Washington, D..C and televised on CSPAN 2.
Three hours into the FCICs much-hyped first public hearing, what’s being said is less important than what is not being said.
The bankers, beleaguered as they may like to appear, have little to fear if the questioning continues as it began.
So far, this is no Pecora Commission, the Depression-era investigation into the cause of the financial crash that led to landmark reforms including the Glass-Steagall Act and creation of the Securities and Exchange Commission.