Why the Economy Crashed

Monday, September 13, 2010

Phil Angelides, Financial Crisis Inquiry Commission chairman, talks about the testimonies the commission is gathering from experts, culprits, and the victims of the economic meltdown.


Phil Angelides

Comments [15]

amalgam from Manhattan by day, NJ by night

@ Bill Schachter - This ain't just raw data that the commission is providing; it's data (documentation) + communications + personal accounts + timelines + hindsight. The summation, ordering, and weighting of this data necessitates cognition and is, therefore, far more than data. Knowledge - selective as it may be.

What is done with it; now that is wisdom (or lack thereof).

Sep. 13 2010 04:00 PM
Bill Schachter from Scarsdale, NY

Data is not Information.
Information is not Knowledge.
And Knowledge is not Wisdom.

Sep. 13 2010 12:53 PM
amalgam from Manhattan by day, NJ by night

@ David Aronowitz - Well said. I think people generally underestimate the importance and power of knowledge, which is especially troubling considering we live in a knowledge society/economy.

Sep. 13 2010 11:22 AM
David Aronowitz from Riverdale

We would like to know - knowledge is better than prosecution. Prevention is better than cure, those who are in the camp of prosecution are completely at lost.

If we know how, why, when, who then we would be better educated so there would be no repeat of cooking the books.

There will always be cheats, we can not eradicate them, we would like to know how to spot a cheat.

Sep. 13 2010 11:10 AM
speedy0314 from 9th circle of hell, ny

oh boy -- another utterly useless "report" from a congressionally-commissioned group of individuals empowered to do ... NOTHING!

[g]OD bless ya brian, yer heart's always in the right place. but i simply cannot take this even remotely seriously. at least the members of the 'commission' will be collecting paychecks throughout their course of the very thorough, very pointless investigation.

3 days after 9/11/2001 george w. bush tells the country to fight terrah by going shopping. really -- just what the hell is there to 'investigate'?

Sep. 13 2010 11:09 AM
bernie from bklyn

blahblahblah....this politician and every other politician cannot not speak of properly investigating what happened and why because they are the recipients of the greed that caused it all. until our campaign funding laws are changed, NOTHING will change.
i don't want to hear a politician talk about solving this "mystery". maybe if journalists in this country would do their job we'd have a better idea of how these greedy vermin got away and are presently geting away with depleting the citizens of this country, their savings, their jobs and their votes.
the citizens united decision just insured that nothing will change anytime soon.

Sep. 13 2010 11:02 AM
John Lobell from New York

Wow -- you can tell that this guy has already drawn his conclusions -- he is going to white-washing the government forcing of subprimes into the economy.

Sep. 13 2010 10:59 AM
Robert from NYC

You can thank(?) Phil Graham from Texas for the final blow to the end of regulation. He should be in jail now but I have a feeling he's doing quite well at UBS.

Sep. 13 2010 10:57 AM
amalgam from Manhattan by day, NJ by night

Gotta agree; at least the right questions are being asked by Angelides. Of course, that doesn't ensure that the report will be completely accurate, but one can hope for the best.

On another point: True, whoindatgarden, with no legal jurisdiction, the commission may not be able to prosecute, but at least they can compile and supply facts that we weren't previously released. And to some extent, because it doesn't have teeth, they will hopefully be more forthcoming.

Sep. 13 2010 10:53 AM
John Lobell from New York

Once again this show and its guests asks about what basket the toxic stuff was in when it hit the fan, but does not address how the toxic stuff was generated. We all saw on YouTube that hearing in which Barny Frank and Maxine Waters excoriate a regulator who wanted to restrict liar loans and other sub primes. THIS WHOLE THING WAS CREATED BY GOVERNMENT AGENCIES FORCING SUB PRIME MORTGAGES INTO THE ECONOMY.

Sep. 13 2010 10:52 AM
charles Harris from island heights new jersey

The crsash resulted from the fact that we stuffed the world markets with counterfeit money and then played "derivatives" with the phoney capital. What is the mystery?

Sep. 13 2010 10:43 AM
whoindatgarden from Brooklyn

This commission is a waste of tax payer money. Why, cuz they don't have the power to prosecute any of the perps who were involved in the shenanigans.

Why is the country so stupid and blind to think that their Government is doing things for them. It is a cabal of thugs being funded by thugs. They all take the oath to uphold the office with their left hand raised.

Sep. 13 2010 10:38 AM

please ask about the role of ratings agencies and whether that has changed.

Sep. 13 2010 10:05 AM

please ask about the role of ratings agencies and whether that has changed.

Sep. 13 2010 10:04 AM

was the high cost of oil in june 08 a symptom of a weak and mismanaged economy or one of the causes of the economic collapse?

Sep. 13 2010 09:06 AM

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