GOP Report Blames Financial Crisis On Mortgage Losses

Law360, New York (December 16, 2010, 4:11 PM EST) -- Republican members of the Financial Crisis Inquiry Commission have released preliminary findings that point to heavy mortgage-related losses at large U.S. and European financial firms as the primary culprit precipitating the economic turmoil behind the 2008 financial crisis.

The FCIC report, released Wednesday by four Republican members of the panel, is not the final word from the commission, appointed by Congress to conduct a deep dive into the root causes of the financial crisis. Instead, its authors say it is meant to convey a “portion of...
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