Monday, July 15, 2024

37 Phil Angelides
Chair - Financial Crisis Inquiry Commission, US Congress

Mr. Angelides is Chairman of the Financial Crisis Inquiry Commission, a ten member bipartisan panel created by Congress and charged with examining the causes of the nation's financial crisis and reporting its findings to the President and Congress by December 2010. From 1999 to 2007, he served as California's State Treasurer. The Associated Press reported that he made "the sleepy treasurer's office a policy powerhouse," and The Sacramento Bee praised Treasurer Angelides as "the most effective and dynamic state treasurer in a generation."

The Commission has been widely praised for its work to date under Chairman Angelides, including its latest hearing on credit rating agencies, which involved an appearance before the Committee by Warren Buffett, a major shareholder in Moody's.

The Commission will publish its final report late this year, unfortunately, not before the publication by Congress of its own conclusions on the causes of the financial crisis, in the form of the Dodd-Frank Act.

Angelides' experience in the property market has also come to good effect in his chairmanship of the Commission, and its investigations into the housing market and the roles of 'Fannie Mae' (FNMA -The Federal National Mortgage Association) and 'Freddy Mac' (FHLMC -The Federal Home Loan Mortgage Corporation) in the crisis.