First Hearing for the FCIC

The Financial Crisis Inquiry Commission, which was established to examine the causes of the economic and financial crisis, kicked off the first day of its first hearing today. The witnesses on the main panel today were the chairmen and CEOs of Goldman Sachs, JP Morgan & Chase, Morgan Stanley, and Bank of America. Commissioner statements and testimony can be seen here. The Commission is chaired by Phil Angeledes, former Treasurer of California, and also includes on its panel a CRFB board member, Doulas Holtz-Eakin. The group has so far generated one report, "Select Financial Market and Economic Data."

The deadline for the Commission to submit their final report to Congress, the President, and the public is December 15, 2010. A National Public Radio interview with the Chairman and Vice Chairman can be found here.