Financial Crisis Inquiry Commission Story Disappears

Earlier this morning I wrote a blog piece about the results of a comprehensive Federal inquiry into the causes and fault of the Great Recession.  I based this post on stories carried by both the New York Times and Financial Times on Wednesday.  Interestingly, both newspapers’ stories have dropped off of their websites, but their coverage of the upcoming Oscars has not.  Hmmm.

One of my favorite ways of intuitively evaluating the state of the collective consciousness is to read many newspapers to see what gets coverage.  Apparently, what I consider to be, one of the most important news stories of the last several years is not something that the major business press feels is important.

Folks, if as a public collective – inside of the U.S. (my home country) and outside of the U.S. – we are unwilling to look at our mistakes and learn from them we are doomed to repeat them.  This is one of my ongoing criticisms of capitalism – the unwillingness to do anything that would threaten the short-term money making ability of any institutions.  But long-term this short-term focus leads to the institutionalization of marginal behaviors and priorities.

The Great Recession was triggered by Wall Street, regulator and political behavior very reminiscent of the same environment that helped to trigger The GREAT Depression.

<sigh!>

But how about The King’s Speech…?  You know the speech where the government said the recession just passed was avoidable?  The one that apparently has caused business people, financiers, regulators, politicians, and now journalists to stutter?  Sorry, but I think the priorities here are screwed up!

Jason