FCIC Getting Tough?

Economy
By Research Team at April 22, 2010 - 4:04pm

This is a good sign:

A federal panel said Wednesday that it had issued a subpoena to the credit-rating agency Moody’s Investors Service after the firm failed to promptly respond to its request for documents and e-mail messages, Sewell Chan writes in The New York Times.

The subpoena suggested an intensified activity by the bipartisan panel, known as the Financial Crisis Inquiry Commission, which was created to examine the causes of the financial crisis.

It was the first such subpoena issued by the panel, which was created by Congress last year and is required to complete its findings by Dec. 15. The panel has been criticized for getting off to a slow start and being unfocused in its inquiry, given the wide scope of its mandate.

The FCIC needs to do more of this. They should continue by issuing a subpoena to Christopher Cox, Bush's man at the SEC. Cox was asleep at the switch and has a lot of questions to answer. It's high time for him to answer them and be held accountable for his role in bringing about the financial crisis.

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