The Senate Committee Homeland Security & Governmental Affairs report | Permanent Investigations (C/Span):

Senator Carl Levin(D-MI) and Senator Tom Coburn (R-OK) spoke to reporters and answered questions about a report on the causes of the 2008 financial crisis and recommend additional changes to financial laws. Among the findings, the report alleged fraudulent mortgage practices at the defunct Washington Mutual Bank, as well as failure to act by federal bank regulators despite their documented knowledge of severe problem at the bank. It also alleged conflicts of interest at credit rating agencies, and claimed Goldman Sachs profited greatly by betting against financial products they sold to clients.

Hat tip Mark H

Category: Bailouts, Video

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