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".
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 " .
Who was not prepared for the financial crisis in 2007 by lacking a full understanding of the financial system?
Who was not prepared for the financial crisis in 2007 by lacking a full understanding of the financial system ?
key policy makers
key policy makers