Financial crisis was 'avoidable'
financial crisis was an ``avoidable'' disaster caused by widespread failures in government regulation, corporate mismanagement and heedless risk-taking by Wall Street, according to the conclusions of a Congressional inquiry.
The financial crisis could have been avoided and was the result of poor decision making both in Washington and at top financial firms that fostered a culture of excessive risk taking, according to a draft report written by Democrats on a panel that investigated the meltdown and obtained by Reuters.