by Bill McBride on 1/24/2011 08:42:00 PM
Monday, January 24, 2011
Note: The Financial Crisis Inquiry Commission will release its report on the causes of the financial and economic crisis on Thursday, January 27, 2011, in Washington, D.C. at 10 AM ET.
From Shahien Nasiripour at the HuffPo: Financial Crisis Commission Finds Cause For Prosecution Of Wall Street
The bipartisan panel appointed by Congress to investigate the financial crisis has concluded that several financial industry figures appear to have broken the law and has referred multiple cases to state or federal authorities for potential prosecution ...I haven't had high expectations for this commission - we already know the dissenting reports are a joke - but I'll still read the report on Thursday.
Though civil charges appear a more likely outcome should prosecution result, one source familiar with the panel's deliberations said criminal charges should not be ruled out.
The commission's decision to refer conduct for prosecution underscores the severity of the activities it has uncovered and plans to detail in its widely anticipated final report, the sources said.