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Jan 28, 2011

Bernanke says all but one major firm at risk in 2008

WASHINGTON (Reuters) – Twelve of the 13 most important U.S. financial firms were at the brink of failure at the height of the credit crisis in 2008, according to previously undisclosed remarks made by Federal Reserve Chairman Ben Bernanke in November 2009 to an investigative panel.

He told the Financial Crisis Inquiry Commission in a private interview that even the most powerful U.S. investment bank Goldman Sachs was among those he feared would topple in a crisis he described as the worst in financial history, even exceeding the Great Depression.

Jan 27, 2011

Ron Paul gloomy on deficit outlook, sees crisis

WASHINGTON (Reuters) – A world currency crisis awaits if the U.S. Congress and the White House do not balance the federal budget soon and that appears unlikely, Representative Ron Paul said in an interview on Thursday.

The iconoclastic Texas Republican also told Reuters he expects wide support for a bill he has reintroduced in the U.S. House of Representatives to allow greatly expanded scrutiny of the Federal Reserve by Congress’ investigative wing.

Jan 27, 2011

Split U.S. crisis panel blames Greenspan, Wall Street

WASHINGTON (Reuters) – A deeply divided U.S. investigative panel issued a scathing critique of the culture of deregulation championed by Former Federal Reserve Chairman Alan Greenspan, saying the government had ample power to avert the financial crisis of 2007-2009 and chose not to use it.

The 10-member Financial Crisis Inquiry Commission’s final report, released on Thursday, was endorsed only by its six Democratic members, undermining its impact as the post-crisis Dodd-Frank law banking reforms are being implemented.

Jan 27, 2011

Split US crisis panel blames Greenspan, Wall St

WASHINGTON, Jan 27 (Reuters) – A deeply divided U.S.
investigative panel issued a scathing critique of the culture
of deregulation championed by Former Federal Reserve Chairman
Alan Greenspan, saying the government had ample power to avert
the financial crisis of 2007-2009 and chose not to use it.

The 10-member Financial Crisis Inquiry Commission’s final
report, released on Thursday, was endorsed only by its six
Democratic members, undermining its impact as the post-crisis
Dodd-Frank law banking reforms are being implemented.

Jan 27, 2011

Divided US crisis panel blames Greenspan, Wall St

WASHINGTON, Jan 27 (Reuters) – A deeply divided U.S.
investigative panel issued a scathing critique of the culture
of deregulation championed by Former Federal Reserve Chairman
Alan Greenspan, saying the government had ample power to avert
the financial crisis of 2007-2009 and chose not to use it.

The 10-member Financial Crisis Inquiry Commission’s final
report, released on Thursday, was endorsed only by its six
Democratic members, undermining its impact as the post-crisis
Dodd-Frank banking reforms are being implemented.

Jan 26, 2011

Rep. Hensarling: Obama shaky on fighting deficit

WASHINGTON (Reuters) – The White House must lead on fighting the U.S. budget deficit and it is still not clear that President Barack Obama is ready to do that, said the U.S. House of Representatives’ No. 4 Republican on Wednesday.

“We must have presidential leadership and I’m not sure the president has decided whether he wants to try to solve the crisis or exploit the crisis,” Texas Representative Jeb Hensarling told Reuters in an interview.

Jan 25, 2011

Financial crisis panel refers cases to Justice

WASHINGTON (Reuters) – A bipartisan panel investigating the financial crisis has referred cases of potential wrongdoing by financial industry officials to the Justice Department, a person familiar with the matter said on Tuesday.

The 2009 law creating the Financial Crisis Inquiry Commission instructs the congressionally appointed panel to refer anyone who may have violated the law to the Justice Department and state attorneys general.

Jan 24, 2011

Vampire Squid? Big Gov’t? US crisis report splits

WASHINGTON, Jan 24 (Reuters) – Three competing, politically
charged tales of the financial crisis will emerge this week
when a U.S. congressional panel finally concludes its 20-month
investigation.

The Financial Crisis Inquiry Commission has failed to
produce a consensus explanation of the 2007-2009 banking
debacle, as it was asked to do in May 2009.

Jan 24, 2011

Vampire Squid? Big Government? U.S. crisis reports murky

WASHINGTON (Reuters) – Three competing, politically recognizable tales of the financial crisis will emerge this week when a U.S. congressional panel finally concludes its 20-month investigation.

The Financial Crisis Inquiry Commission has failed to produce a consensus explanation of the 2007-2009 banking debacle, as it was asked to do in May 2009.

Jan 24, 2011

Vampire Squid? Big Gov’t? US crisis reports murky

WASHINGTON, Jan 24 (Reuters) – Three competing, politically
recognizable tales of the financial crisis will emerge this
week when a U.S. congressional panel finally concludes its
20-month investigation.

The Financial Crisis Inquiry Commission has failed to
produce a consensus explanation of the 2007-2009 banking
debacle, as it was asked to do in May 2009.