The Financial Crisis commission has started hearings. The Huffington Post has a blow by blow (with video clips).

You maybe wondering why we have not amplified these hearings. Today at least, as expected, one heard a whole lot of generalities with a lot of rambling justifications from CEOs and not a lot of substance.

So, in my view this commission will be for show. A lot of Populist rage, possibly some great sound bytes and youtubes, but in terms of really nailing any corporation or any issue, I doubt it.

Here's some confirmation on what we already know. The large banks know the U.S. government will save them.

f there was any doubt that Wall Street thinks the government will step in to save "too big to fail" firms, Goldman Sachs CEO Lloyd Blankfein dispelled it on Wednesday morning.