Watchdog group to release report on precious metals purchase
A group of former government regulators is preparing to release a report detailing the purchasing of precious metals and other assets that helped finance the financial crisis.
The Financial Crisis Inquiry Commission is calling for an independent review of how federal government assets were used in the crisis, according to the group’s executive director, Thomas Condon.
“Our focus is not just on the past, but also on the future,” Condon said in a statement.
“What happened in 2008 and 2009 has been forgotten by the American people, and the public deserves to be able to examine the future.”
The commission’s report is expected in June.
It will be led by former Treasury Secretary Larry Summers, former Treasury secretary Hank Paulson and former Treasury Department official Mark Hinkle, the commission said.
Condon and Hinkle were both appointed to the commission by President Donald Trump in the wake of the financial collapse.
In a statement, the Treasury Department said it was committed to working with the commission.
“The Treasury Department’s Office of Inspector General and Treasury Inspector General for Tax Administration (TIGTA) will conduct this review as part of the ongoing investigation into the financial and tax affairs of the Treasury,” Treasury Secretary Steven Mnuchin said in the statement.
Cointelegraph.com will continue to provide updates on this developing story.