Economy

January 28, 2011

Phil Angelides: Financial crisis 'didn't need to happen'

Sacramento, California's Phil Angelides, appointed by Congress to investigate the financial crisis of 2008, declared Thursday that the entire mess could have been avoided. In a blistering report that followed 18 months of testimony and fact-gathering, Angelides and his Financial Crisis Inquiry Commission blamed a wide cast of characters for the epic meltdown. The report said human error created the crisis.

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