“Using their own words... the report discloses how financial firms deliberately took advantage of their clients and investors, how credit rating agencies assigned AAA ratings to high risk securities, and how regulators sat on their hands instead of reining in the unsafe and unsound practices all around them,” Senator Carl Levin (D – MI), the committee’s ranking Democrat, said in a press release. “Rampant conflicts of interest are the threads that run through every chapter of this sordid story.”
Unlike previous attempts by Congress to find blame that ended up mired in partisan divisions, most notably the Financial Crisis Inquiry Commission report, the investigations committee managed to hold things together. Members of both parties agreed they had uncovered evidence of widespread fraud and deceit by leaders of the nation’s largest banks and financial institutions.
- Credit.com Senate Committee: Greed, Complacency Caused the Crisis, Credit.com, April 16, 2011.
2. The reason why NFL teams battle so hard for home field advantage and first round byes during the regular season was plainly evident on Saturday night. The Patriots and Titans are two evenly matched teams that might split ten games against each other on a neutral field. But mix together sub-zero temperatures, an impressively loud fandom, and an Adam Vinatieri fourth-quarter kick in tough conditions and you have the formula for the Patriots reaching their third AFC Championship Game in seven years.
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