Today the Financial Crisis Inquiry Commission releases its huge report about what caused the financial crisis.
A source who has seen and read the FCIC’s report tells us that, not surprisingly, Goldman Sachs “appears a lot.”
We already know one of the revelations: that despite testifying otherwise, the bank kept billions in AIG bailout money for itself.
The report is a massive, 576 page book that basically comes to the conclusion that the financial crisis was “unavoidable,” while also singling out several institutions specifically for “greed, ineptitude or both,” says the NY Times, which read the report’s conclusion.
The findings come from 19 days of hearings and interviews with more than 700 witnesses, and other emails and documents.
We’re looking forward to some other new disclosures when the report gets officially released at 10 am.