Tuesday, October 21, 2008

Wall Street Inquiry I

Posted as submitted on 10-17-08 by Ombudsman

Appoint a commission of highly qualified individuals to highlight those practices that led to the current disaster. The group shall consist of lawyers, CPAs, economists, CEOs and money managers.

The requirements for selection shall include, but not be limited to:
  • No previous or present conection to Wall Street or Washington politics.
  • Never having been a lobbyist or affiliated with one.
  • No conflict of interest, either real or apparent, through family or friends.
Report back in four months what in their opinion caused and/or facilitated the disaster. The causes specified may include anything that, in their opinion, facilitated the collapse. They may include, for example, philosophies, rates, regulations, memos of understanding or any other instrument, procedure or instruction that was used.

The intent of this report is to identify only, not to suggest changes.

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