Panel finds financial crisis was avoidable (Yes. Yes, You guessed it. Bush's Fault! and others too).

Yahoo ^ | 1/27/11 | Marcy Gordon and Daniel Wagner - ap

[NormsRevenge]

WASHINGTON – The government-appointed panel investigating the roots of the financial crisis says the meltdown occurred because government officials and Wall Street executives ignored warning signs and failed to manage risks.

The crisis could have been avoided, the Financial Crisis Inquiry Commission determined in a final report released Thursday that was only supported by Democrats on the panel. Instead the country fell into the deepest recession since the 1930s and millions of people lost their jobs, the congressionally appointed panel concluded.

The Bush and Clinton administrations, the current and previous Federal Reserve chairmen, and Treasury Secretary Timothy Geithner all bear some responsibility for allowing the crisis to happen, the panel said.

[HereInTheHeartland]

“With the right information anything is avoidable.”

Very good point.

In hindsight, Pearl Harbor was easy to predict but hardly anyone saw it coming as one example.

[Sparky1776]

bookmark