If anyone was looking for Wall Street executives to say “sorry” at the financial meltdown hearing, they would have been disappointed.
If anyone was looking for the Justice Department to offer a firm “Yes” to the Financial Crisis Inquiry Commission‘s request for sharing information, they would have been disappointed. (Attorney General Eric Holder did pledge cooperation).
But one commission member declared “this is the happiest day of my life” (we’re thinking perhaps he needs to get out more).
Doug Holtz-Eakin thanked the panel of regulators for resolving whether the “uptick rule matters, whether short sellers ruined the world, and how much mark-to-market accounting matters. I have been waiting for this day and look forward to your reports. It’s going to be wonderful.”
But another commission member was totally unimpressed with the “uptick rule” and asked the SEC chief for a memo from the agency’s economist on it.