Lawmakers Clash Over Financial Crisis Report

Law360, New York (February 16, 2011, 2:23 PM EST) -- Lawmakers heard testimony Wednesday on the Financial Crisis Inquiry Commission’s report on the causes of the economic collapse, sticking to party lines in the debate over the merits of the findings and the scope of potential reform.

The U.S. House of Representatives’ Financial Services Committee contemplated the commission’s final report and weighed claims that its call for extensive regulation failed to appreciate the proper causes of the global financial upheaval.

Commission Chairman Phil Angelides told lawmakers that the financial crisis was an avoidable, man-made catastrophe, caused...
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