Why It's Awesome That The GOP Walked Out, And Torpedoed The Financial Crisis Commission


Photo: hackdaddy via Flickr

The GOP members of the Financial Crisis Inquiry Commission walked out, and decided to publish their own report blaming Washington, while absolving Wall Street of all the blame. Specifically, they’re blasting the GSEs.This is, of course, enraging to liberals, who see it as evidence that the GOP is the party of Wall Street.

Felix Salmon laments that that there will never be a definitive guide to the crisis, a la the 9/11 commission report.

This is actually good news. The idea of coming up with a definitive guide to a financial crisis is silliness.

It’s best to just have everyone have it out: the GOP gets to make its arguments that it was the GSEs, the Democrats get to blame everyone, and then from there people can see which is better.

We like Felix’s idea of just uploading all the documents and data dumps, and letting bloggers and journalists construct the story. In the end, the value of the FCIC was getting all the testimony together.

Meanwhile…you can see here the GOP’s full report. It does seem pretty pathetic and dashed together, but no harm.

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