Financial Crisis Inquiry Report: Findings and Ramifications February 15, 2011

Chairman Phil Angelides will reflect on the Financial Crisis Inquiry Commission's findings and how such findings will be presented to Congress, the President, and the American people in late January 2011. The commission was created on May 20, 2009 when in the wake of the most significant financial crisis since the Great Depression, the president signed into law the Fraud Enforcement and Recovery Act of 2009. The commission was established to "examine the causes, domestic and global, of the current financial and economic crisis in the United States."

Angelides was named Chairman of the bi-partisan Financial Crisis Inquiry Commission on July 15, 2009. Congress created the commission to investigate the events that spurred the 2008 collapse of the financial markets. It will report back to Congress with conclusions about what happened and what can be done to avoid future market collapses.

From 1999 to 2007, Angelides served as the 31st California State Treasurer. He also sat on the boards of CalPERS and CalSTRS, the nation’s first and third largest public pension funds. Angelides was also a leader in the corporate reform movement, calling for increased standards of financial disclosure. He supported investment in socially and environmentally conscious businesses. The Double Bottom Line Initiative invested $14 billion dollars in ventures that benefited the inner-city and underserved communities. Angelides worked with other state treasurers and controllers to call on the SEC to approve a rule giving shareholders the right to nominate candidates for corporate board directors