FCIC reporting that the 2007 depression was avoidable

it took these idiots 4 yrs to come to this conclusion? this country is corrupt to the core. until we get perp walks and i mean high level perp walks, this economy cannot and will not heal.

“The 2008 financial crisis was an “avoidable” disaster caused by widespread failures in government regulation, corporate mismanagement and heedless risk-taking by Wall Street, according to the conclusions of a Congressional inquiry.”

“The report is likely to reignite debate over the outsize influence of Wall Street; it says that regulators “lacked the political will” to scrutinize and hold accountable the institutions they were supposed to oversee. The financial sector spent $2.7 billion on lobbying from 1999 to 2008, while individuals and committees affiliated with the industry made more than $1 billion in campaign contributions.”

read more here:

http://www.nytimes.com/2011/01/26/business/economy/26inquiry.html?src=busln

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