Financial Crisis Inquiry Commission

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The Financial Crisis Inquiry Commission was created by Congress to look into the causes of the 2008 financial crisis.

The commission has authority to hold hearings, and subpoena witness testimony and documents. In the end the panel held 19 hearings and interviewed 700 witnesses. The panel is required to issue a report on its findings by Dec. 15, 2010, but delayed the final release until January 27, 2011. For a short period of time, the report can be ordered from the Commission's website

All the report testimonies, footnotes, interviews will be posted on-line including emails and other documents obtained from financial institutions as part of the investigation. A summary of conclusions and dissents can be accessed at:


Six members of the panel are appointed by Democrats and four by Republicans.

  • Phil Angelides, previously Treasurer of Califonria, is chairman of the commission.
  • Bill Thomas, former U.S. Representative is vice chairman.

Democratic appointees:

Republican appointees:

Pecora Commission

The Financial Crisis Inquiry Commission is occasionally referred to as a "New Pecora Commission". The original Pecora Commission, launched in 1932, investigated the causes of the 1929 Wall Street crash. It was named after its chief counsel Ferdinand Pecora. The Pecora commission reported on the causes of the financial crisis that caused the Great Depression, and led to the passage of several banking reforms, including the Glass-Steagall Act.

Financial Institution Representatives Written Testimony

Key findings and reports


The Commission issues numerous reports and researchers are encouraged to visit the site to delve into the material.

Hearings and testimony

Articles and resources

Related SourceWatch articles

See also


All written testimonies can be found here.

External resources

A new great resource to use is the new [ FCIC] website.

External articles