Democracy Now: Financial Crisis Panel Recommends Prosecutions

The congressional panel investigating the nation’s financial crisis has reportedly voted to recommend the potential prosecution of financial industry figures and corporations. According to The Huffington Post, the Financial Crisis Inquiry Commission is preparing to refer a number of cases to state or federal prosecutors for investigation. The New York Times meanwhile reports that panel members have concluded that the financial crisis was “avoidable” and caused by regulatory failure, corporate mismanagement and Wall Street recklessness. A leaked draft of the panel’s report says: “The greatest tragedy would be to accept the refrain that no one could have seen this coming and thus nothing could have been done. If we accept this notion, it will happen again.”

~ by wheresthemic on January 27, 2011.

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