The Financial Crisis Inquiry Report: Final Report of the National Commission on the Causes of the Financial and Economic Crisis in the United States

The Financial Crisis Inquiry Report: Final Report of the National Commission on the Causes of the Financial and Economic Crisis in the United States

1.6 13
by Financial Crisis Inquiry Commission
     
 
On Monday, September 15, 2008, the Dow Jones Industrial Average fell more than 500 points, the largest single-day point drop since the 9/11 terrorist attacks.

These drops would be exceeded on September 29-the day that the House of Representatives initially voted against the $700 billion Troubled Asset Relief Program (TARP) proposal to provide extraordinary support

Overview

On Monday, September 15, 2008, the Dow Jones Industrial Average fell more than 500 points, the largest single-day point drop since the 9/11 terrorist attacks.

These drops would be exceeded on September 29-the day that the House of Representatives initially voted against the $700 billion Troubled Asset Relief Program (TARP) proposal to provide extraordinary support to financial markets and firms-when the Dow Jones fell 7% and financial stocks fell 16%. For the month, the S&P 500 would lose $889 billion of its value.

And specific institutions would take direct hits...

Editorial Reviews

From the Publisher

Slate, December 2010
"With those books, you'll never need to read anything that emerges from the FCIC. But if you do, read the good stuff: the interviews in which it grilled executives from Wall Street and the housing industry. The commission called in the loan-makers and bankers that caused the crisis and forced them to answer questions about their businesses—all for the public record. (It also subpoenaed thousands of pages of documents from Wall Street firms, though it is not clear if it will make those public.) There's no need to get the narrative from the FCIC. But if you want, say, to hear former Lehman CEO Dick Fuld try to defend himself, that's the place to go.”

NPR’s Morning Edition
“The majority report reads a lot like a book, and a bit of a potboiler at that. The commission conducted hundreds of hours of interviews, with industry insiders, policymakers, whistle-blowers and regulators. And the pages of the majority's report are strewn with quotes from these interviews — foreboding, eye-popping quotes.”

New York Times, February 2, 2011
“The report is full of fascinating information, rich detail and fine documentary evidence.”
 
New York Times, January 30, 2011
”The report still makes for compelling reading because so little has changed as a result of the debacle, in both banking and in its regulation.”
 
Minneapolis Star-Tribune, January 29, 2011
“At 662 pages, the FCIC report amounts to a sweeping forensic examination of a crisis that the commission says could have been avoided. The conclusions are written with style and infused with an appropriate tone of outrage, buttressed by more than 700 interviews (including one with Minnesota lawyer Prentiss Cox) and millions of documents.”
 

New York Times, February 13, 2011
“full of fascinating detail”

New York Times
, February 17, 2011
“Actually, the report — and the online archive of testimony, interviews and documents that are now available — is a treasure trove of invaluable information about the causes and consequences of the Great Recession.”
 
New York Review of Books, April 28, 2011
“The most comprehensive indictment of the American financial failure that has yet been made…The definitive history of this period.”
 

Forbes, April 18, 2011
“The report is very comprehensive, is well written and provides study material for much more extensive analysis.”

CHOICE, August 2011  “Anyone interested in studying the causes of the financial crisis that reached a critical mass in 2008 must read this report… It is a Herculean research effort that deserves recognition.”

Product Details

ISBN-13:
9781612930008
Publisher:
Tribeca Books
Publication date:
05/01/2011
Pages:
662

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