“Four months after its creation, a congressionally appointed panel modeled after the 9/11 Commission and the Iraq Study Group is opening a 15-month investigation into the causes of last year’s economy-crippling financial collapse.
“The 10-member, bipartisan Financial Crisis Inquiry Commission holds its first meeting Thursday. With a budget of $5 million, its instructions are to submit findings to lawmakers by December 2010, long after Congress hopes to have a new regulations in place for preventing another Wall Street meltdown.” (AP, Thursday)
If it took four months to start the investigation, how long will it take to conclude it?
FEE Timely Classic:
Subprime Monetary Policy by Gerald O’Driscoll