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Financial Crisis Inquiry Commission to examine mortgage fraud and housing meltdown in Florida

Black Gavel Pic/Credit: Brand X Pictures

The Financial Crisis Inquiry Commission will host a hearing titled: “The Impact of the Financial Crisis – Miami, Florida, today, Tuesday, Sept. 21, 2010 at 9:00 a.m. EST at Florida International University's Modesto A. Maidique Campus, College of Law–Rafael Diaz-Balart Hall, located at 11200 SW 8th Street in Miami, Fla. The bi-partisan 10-member Financial Crisis Inquiry Commission was created by Congress and is charged with examining the causes of the financial meltdown, including complex financial derivatives; credit rating agencies, Fannie Mae and Freddie Mac, the government-sponsored enterprises (GSEs), the shadow banking system, sub-prime lending practices and securitization, and the demise of banks that were deemed "too big to fail." 

The Commission will also examine the collapse of major financial institutions that failed or would likely have failed had they not received exceptional government assistance. The Commission is comprised of Chairman Phil Angelides, Vice Chairman Bill Thomas, and Commissioners Brooksley Born, Byron Georgiou, Robert Graham, Keith Hennessey, Doug Holtz-Eakin, Heather Murren, John W. Thompson and Peter Wallison. Findings and conclusions are to be presented in a formal report to Congress and the President by Dec. 15, 2010.

Schedule of events for the Commission's Miami session is as follows:

Session 1: Overview of Mortgage Fraud
William K. Black, Associate Professor of Economics and Law University of Missouri-Kansas City
Ann Fulmer, Vice President of Business Relations, Interthinx and Co-Founder, Georgia Real Estate Fraud Prevention and Awareness Coalition
Henry N. Pontell, Professor of Criminology, Law & Society and Sociology, University of California, Irvine

Session 2: Uncovering Mortgage Fraud in Miami
Dennis J. Black, President, D.J. Black & Company
Edward Gallagher, Executive Officer, Economic Crimes Bureau, Mortgage Fraud Task Force, Miami-Dade Police Department
Jack Rubin, Senior Vice President, JPMorgan Chase Bank
Ellen Wilcox, Special Agent, Florida Department of Law Enforcement

Session 3: The Regulation, Oversight, and Prosecution of Mortgage Fraud in Miami
J. Thomas Cardwell, Commissioner, Office of Financial Regulation, State of Florida
Wilfredo A. Ferrer, United States Attorney, Southern District of Florida
R. Scott Palmer, Special Counsel and Chief of the Mortgage Fraud Task Force, Office of the Attorney General, State of Florida

For more information or to register, visit www.FCIC.gov.

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