The FCIC falls apart

Best politicians bankers can buy!
regards,
-Lance

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http://blogs.reuters.com/felix-salmon/2010/12/15/the-fcic-falls-apart/

The FCIC falls apart
DEC 15, 2010 09:06 EST
Shahien Nasiripour reports (http://www.huffingtonpost.com/2010/12/14/financial-crisis-panel-wall-street_n_796839.html 
) this morning that the Financial Crisis Inquiry Commission has, to  
all intents and purposes, fallen apart. The four Republicans seem set  
to issue their own minority report, sticking to discredited Republican  
talking points which blame the government and Frannie for the crisis,  
with especial focus on the long-standing and harmless Community  
Reinvestment Act. As a result, the official report will be received as  
some kind of equal-and-opposite Democrat view, rather than a  
definitive take along the lines of the 9/11 Commission report.

Given that putting this report together seems to be impossible, here’s  
my suggestion: it should go open-source. The FCIC’s great advantage  
over other narratives of the crisis is its subpoena power: it has  
access to enormous amounts of information no one else has seen. If it  
can’t collate that information into a definitive report, it should  
make all the information public—including everything in that notorious  
Goldman Sachs data dump—and let all of us have at it. Collectively, we  
should be able to do at least as well as the partisans in DC.

Update: You really can’t make this stuff up:

During a private commission meeting last week, all four Republicans  
voted in favor of banning the phrases “Wall Street” and “shadow  
banking” and the words “interconnection” and “deregulation” from the  
panel’s final report, according to a person familiar with the matter  
and confirmed by Brooksley E. Born, one of the six commissioners who  
voted against the proposal.
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