Tom Krebs has been named to a senior post with the Congressional commission investigating the near collapse of the nation’s financial system last year. Tom will serve in a senior post on the panel. The Birmingham lawyer, who is the former head of the Alabama Securities Commission, was named assistant director and deputy general counsel of the Financial Crisis Inquiry Commission (FCIC). Tom, who is with the Birmingham law firm of Haskell Slaughter Young & Rediker, will begin work in Washington immediately.
As you will recall, the FCIC was formed by Congress this year to examine the causes of the meltdown that cost hundreds of thousands of jobs after bankruptcies and major financial losses at major Wall Street firms. The role of highly-leveraged mortgage-backed investments and so-called “derivative investments,” which represent little more than speculation on the direction of interest rates by some of the country’s most respected financial institutions, should be looked at carefully and appropriate action taken.
Tom has developed a national reputation as both a regulator and lawyer in the private sector for his ability to “investigate and prosecute financial corruption.” It was reported that Congress expects findings and an official report by December 2010. I predict that Tom will do an outstanding job and we all wish him the very best.
Source: Birmingham News
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