2011
January
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.“
April
The US Senate Permanent Committee on Investigations releases the Levin-Coburn report, "Wall Street and the Financial Crisis: Anatomy of a Financial Collapse". It presents new details about the activities of Goldman Sachs, Deutsche Bank, Moody's, and other companies preceding the financial crisis.
Former NY Governor Eliot Spitzer says that if the Attorney General cannot bring a case against Goldman Sachs, after the revelations of the Levin-Coburn report, then he should resign.
Read more about this topic: Subprime Crisis Impact Timeline