Friday, January 28, 2011

Head of Crisis-Panel Says Warning Signs Weren't Heeded

    So another day, another panel and another study, not unlike the 'Debt Commission' concluding what was already known. The government is too big and the people in charge are incapable of doing the job elected to do.
   Let's just mention social security for the fact that it is broke. This government is spending more than it takes in.  Will anyone have the testicular fortitude to do anything about it, no.  Now some want to allow this government to be in control of the medical care you and your family receive...........huh?

Corporate governance issues and "an explosive mix of excessive borrowing" contributed to the crisis as well, the report finds. It also points to governance breakdowns at firms such as American International Group Inc., which made giant bets on the mortgage market, and Fannie Mae.
In addition, the 500-plus page report says key policymakers simply weren't prepared for the meltdown and there were "systemic breaches in accountability and ethics at all levels."
Getty Images
Financial Crisis Inquiry Commission Chairman Phil Angelides

   What have we learned, will history repeat itself ...............yes, it always does.  Get your own "stuff" together because tough times are still ahead.

No comments:

Post a Comment

all comments will be signed to be published