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

Law360 (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...
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