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Republicans Preempt FCIC Report, Publish Views on Crisis

Melissa Klein Aguilar | December 17, 2010

The four Republican members of the high-profile panel created to investigate the causes of the financial crisis have posted their own views of what happened, a month before the full Commission is set to issue its report to Congress.

Amid reports of a rift within its ranks, four of the 10 members of the Financial Crisis Inquiry Commission, vice chairman Bill Thomas and commissioners Keith Hennessey, Douglas Holtz-Eakin and Peter Wallison, have released a 9-page “primer” on the causes of the crisis.

The financial crisis was “at its core, a financial panic that was precipitated by highly correlated mortgage-related losses concentrated at large financial firms in the United States and Europe,” the paper, “Financial Crisis Primer: Questions and Answers...

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