By December 2010, the world will know exactly what caused the financial crisis. As executives and politicians around the world remain completely dumbfounded as to what could possibly have led to the fun and games over the last 18 months, the 10-person Financial Crisis Inquiry Commission is gearing up to end the confusion. To uncover the multitude of still undetermined causes of the mess, Congress told the FCIC to start by examining 22 contributing factors.
"The purpose of this report is to lay out ... what in fact occurred so that everyone can learn the lessons of this calamity," (FCIC Chairman Phil) Angelides said in a recent interview.
So, with any luck, around the one year anniversary of forthcoming legislation designed to avoid another crisis, Congress believes its dream team can find out exactly what should be done to avoid another crisis. Who says the shoot-fire-aim methodology is dead?