Saturday, March 3, 2012
FCIC Puts Blame Onto Banks And Government For Financial Crisis
![By Financial Crisis Inquiry Commission (http://fcic.gov/about/p-angelides.php) [Public domain], via Wikimedia Commons](https://lh3.googleusercontent.com/blogger_img_proxy/AEn0k_smKJtgb4dgGdZKZI485Hziazry0alvDivN3-oItIM7RlaQsK-t0KKm02iMhzhfO6-q0c7P5nFnYPXtwdhHxX5cxdIirZ-fWZMj0rEpbLDc14mxSWFHKFXndv8eQGcuFiKRmGRkmk3UbrhYX4I=s0-d "By Financial Crisis Inquiry Commission (http://fcic.gov/about/p-angelides.php) [Public domain], via Wikimedia Commons")
The 2007 financial disaster has adversely changed the lives of countless numbers of Americans. Many asking the question, who is to blame for creating this crisis?
A recent study make known by the Financial Crisis Inquiry Commission (FCIC) places the blame on government and the banks as the two main criminal’s envolved in the stock market crash and resulting financial chaos. The report shows that the deregulation and self-regulation by the banks are major factors. The report continues saying banks not only overlooked warnings they also failed to properly manage and put into question the risks that their faulty mortgages were giving out...
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