Sens. Want 9/11-Style Probe Into Economic Crisis

Law360, New York (January 23, 2009, 12:00 AM EST) -- Before effectively dealing with the fallout from the collapse of global financial institutions, the U.S. government needs to conduct a full investigation into what caused the economic meltdown, according to a bipartisan Senate bill introduced Thursday.

The legislation, drawn up by Sens. Johnny Isakson, R-Ga., and Kent Conrad, D-N.D., would establish a seven-member Financial Markets Commission. The commission would have a yearlong mandate to investigate the failures and make sound recommendations about the way forward for the financial system.

“When Enron and WorldCom failed at the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.