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Down on Wall Street, Not Much Interest in Reading the FCIC Report

Thursday, January 27, 2011

WNYC

On the day the Financial Crisis Inquiry Report was released, saying that the banks could have prevented the economic meltdown of 2008, few on Wall street seemed fazed by the news.  Most people walking around the financial district didn't even know the report had been released, and very few said they would even read it beyond a general summary in the news.  WNYC could only find one person who said she would read the entire report, and she didn't want to give her name.

Here's a selection of what people in the financial district told us:

Katherine McGee/WNYC

Mark Corvais works in the Trump building on Wall Street.  He says he won't read the report because he's a "functioning illiterate." But he says there's some truth to the finding that the banks are primarily responsible for the financial crisis. "That's probably true, but I would also think individuals have to take responsibility for their own financial future."

Katherine McGee/WNYC

Environmental engineer Jake Smith says he's not big into financial literature, but he thinks the report deals with an event that's still affecting people today. "I think people are still feeling the sting from it, are still interested in finding out the actual cause. Can they pin it on anybody and whether people should go to jail for it?"

Katherine McGee/WNYC

Deutche Bank employee Hiba Boutari says she'd have been more interested in the report if it had came out earlier. "Especially with the Dow coming up yesterday, what will this book have to offer to me? Nothing."

Katherine McGee/WNYC

Colin Dempsey manages a law firm on Wall Street and says he probably won't read the report. "There are too many reports out there, too much stuff. It's overwhelming to really think about it."

Katherine McGee/WNYC

Elizabeth Yates works for a financial publication. She says she'll read parts of the report, but won't go through it cover to cover.  "My feeling is and maybe a lot of people feel this, but I don't know if I would understand it or that I have the grasp of all the terms involved."

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