The Financial Crisis Inquiry Commission (FCIC) was a ten member bipartisan panel created by federal law and charged with conducting the nation’s official inquiry into the causes of the 2008 financial crash, the worst crash since the Great Crash of 1929 which caused the worst economy since the Great Depression of the 1930s. The Commission delivered its findings to the President and Congress five years ago, on January 27, 2011. Former Governor and U.S. Senator Bob Graham, a member of the FCIC, and its Chairman, Phil Angelides, have written a new must-read editorial titled Much More Work to Prevent Another Financial Meltdown, marking this milestone and discussing how far we’ve come and how far we still need to go to prevent another devastating financial crash:
“We have made progress since the commission’s report. But building on these reforms will take political will, as revisionists continue to try to rewrite history, roll back progress and prevent reforms from seeing the light of day.”
You can read the editorial here.