January 2011 the crisis was avoidable and was caused by: widespread failures in financial regulation Federal Reserve key policy makers financial firms
When did the U.S. Financial Crisis Inquiry Commission report its findings? What was one of the conclusions of the U.S. Financial Crisis Inquiry Commission regarding the financial crisis of 2007? What agency failed to stem the tide of toxic mortgages contributing to the financial crisis of 2007? Who was not prepared for the financial crisis in 2007 by lacking a full understanding of the financial system? Which business sector contributed to the financial crisis by acting recklessly and taking on too much risk?
The U.S. Financial Crisis Inquiry Commission reported its findings in January 2011. It concluded that "the crisis was avoidable and was caused by: widespread failures in financial regulation, including the Federal Reserve’s failure to stem the tide of toxic mortgages; dramatic breakdowns in corporate governance including too many financial firms acting recklessly and taking on too much risk; an explosive mix of excessive borrowing and risk by households and Wall Street that put the financial system on a collision course with crisis; key policy makers ill prepared for the crisis, lacking a full understanding of the financial system they oversaw; and systemic breaches in accountability and ethics at all levels".
question: When did the U.S. Financial Crisis Inquiry Commission report its findings?, answer: January 2011 | question: What was one of the conclusions of the U.S. Financial Crisis Inquiry Commission regarding the financial crisis of 2007?, answer: the crisis was avoidable and was caused by: widespread failures in financial regulation | question: What agency failed to stem the tide of toxic mortgages contributing to the financial crisis of 2007?, answer: Federal Reserve | question: Who was not prepared for the financial crisis in 2007 by lacking a full understanding of the financial system?, answer: key policy makers | question: Which business sector contributed to the financial crisis by acting recklessly and taking on too much risk?, answer: financial firms