Alan Greenspan: I Was Right 70 Percent of the Time

A source familiar with the matter told ABC News that the panel feels good about the progress made thus far, but a great deal of work remains. One indication of the massive task that the commission faces is that, to date, the panel has received over 500,000 documents comprising over two million pages. Not making matters any easier for the panel is its bipartisan structure: six of the ten members were appointed by Democrats, four by Republicans.

In addition, the panel's influence on Wall Street reforms could be minimal. Congress is already pushing ahead with bills to enact the biggest overhaul of Wall Street regulations since the Great Depression. The House of Representatives passed its reform bill late last year and the Senate is poised to take up its reform measure in the coming weeks. A final bill is expected to emerge within months.

On Thursday the commission will hear from Citigroup's former CEO Chuck Prince and former board chairman -- and former Treasury Secretary -- Robert Rubin as part of an examination of the bailed-out banks' mistakes. In the week's final hearing on Friday the panel will summon a handful of officials from government-backed mortgage giant Fannie Mae, including CEO Daniel Mudd.

-- This embed didnt make it to copy for story id = 10309017. -- This embed didnt make it to copy for story id = 10309017. -- This embed didnt make it to copy for story id = 10309017. -- This embed didnt make it to copy for story id = 10309017. -- This embed didnt make it to copy for story id = 10309017. -- This embed didnt make it to copy for story id = 10309017.
Page
  • 1
  • |
  • 2
Join the Discussion
You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus
 
You Might Also Like...
See It, Share It
PHOTO: Up in Ash: Mount Sinabung Erupting
Tibt Nangin/Anadolu Agency/Getty Images
PHOTO: Firefighters rescue a woman who got stuck in a chimney in Thousand Oaks, Calif.
Ventura County Fire Department
PHOTO: Apple Pay is demonstrated at Apple headquarters on Oct. 16, 2014 in Cupertino, Calif.
Marcio Jose Sanchez/AP Photo
PHOTO: Defendant Jodi Arias testifies about killing Travis Alexander in 2008 during her murder trial in Phoenix, Feb. 20, 2013.
Charlie Leight/The Arizona Republic/AP Photo