#phil angelides

[springfieldcameraclub]

[bookmarkquotes]

'It is fundamentally important that Grasso resign so that the New York Stock Exchange can restore its moral authority.' -Phil Angelides | See more image quotes at Bookmark Quotes

[bookmarkquotes]

'It is fundamentally important that Grasso resign so that the New York Stock Exchange can restore its moral authority.' -Phil Angelides | See more image quotes at Bookmark Quotes

[kambui]

Think about it for a minute. Here we are, four years after the deluge, and a $600 trillion derivatives market is still in the shadows - unknown, unregulated, untransparent. We learn about it when there’s an explosion that peaks out and lightens that darkness.We may learn about it when we find out which American banks have made what kind of bets on European sovereign debt.

Former California State Treasurer and Chair of the Financial Crisis Inquiry Commission, Phil Angelides, discussed the current danger financial institutions pose to society, the importance of breaking up these institutions and his thoughts about Presidential Candidate Mitt Romney during a speech at the Center for National Policy. You can watch the video below or read the transcript...

[poweredbytides-blog]

[goodbyeolepaint]

The report, which was heavily shaped by the commission’s chairman, Phil Angelides, is dotted with literary flourishes. It calls credit-rating agencies “cogs in the wheel of financial destruction.” Paraphrasing Shakespeare’s “Julius Caesar,” it states, “The fault lies not in the stars, but in us.” Of the banks that bought, created, packaged and sold trillions of dollars in mortgage-related securities, it says: “Like Icarus, they never feared flying ever closer to the sun.”

Financial Crisis Was Avoidable, Inquiry Concludes - NYTimes.com

Nice.