In the fall of 2008, America suffered a devastating economic collapse. Once valuable securities lost most or all of their value, debt markets froze, stock markets plunged, and storied financial firms went under. Millions of Americans lost their jobs; millions of families lost their homes; and good businesses shut down. These events cast the United States into an economic recession so deep that the country has yet to fully recover.
So begins WALL STREET AND THE FINANCIAL CRISIS: Anatomy of a Financial Collapse, the Majority and Minority Staff Report of the Permanent United States Senate Subcommittee on Investigations. The 650-page report covers “too big to fail” financial institutions, high-risk lending practices, regulatory failures, inflated credit ratings investment bank abuses.
The entire report is available online at Wall Street and the Financial Crisis: Anatomy of Financial Collapse