Research AreasFinance, Jobs & MacroeconomicsSAFER Financial ReformForum and References on the FCIC

Open Forum and References on the FCIC

This page features general commentary on the Commission’s inquiry, monitoring of its activities and documents that shed light on its operations.

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Document Collection

Gibson, Dunn & Crutcher: “How to Prepare for the Investigative Agenda” (January 2010): webcast - slides (pdf)
In this presentation, attorneys from a firm with a large financial industry practice review “how investigations work; who the key players are; the 'do's and don'ts' for targets and witnesses; and the investigative agenda for the coming year.” In addition, the lawyers tell clients “how you can mitigate your company's potential risks of an investigation and how to protect your organization in the event that a Congressional committee or the FCIC turns its attention to your firm.”

Financial Crisis Inquiry Commission Preliminary Staff Reports

Ross Levine. 2010. "An Autopsy of the U.S. Financial System." NBER Working Paper No. 15956.

Abstract: In this postmortem, I find that the design, implementation, and maintenance of financial policies during the period from 1996 through 2006 were primary causes of the financial system’s demise. The evidence is inconsistent with the view that the collapse of the financial system was caused only by the popping of the housing bubble and the herding behavior of financiers rushing to create and market increasingly complex and questionable financial products. Rather, the evidence indicates that regulatory agencies were aware of the growing fragility of the financial system associated with their policies during the decade before the crisis and yet chose not to modify those policies.