Philip Angelides, a former Treasurer of California, headed the commission which issued a report which was widely criticized, both by those who felt is didn’t go far enough (see references below) and by some commission members who felt it went too far and resulted in conflicting minority reports.  

“I ask a simple question: how could the banks have engaged in such massive misconduct and wrongdoing without a single individual being involved? In a sense, it’s the immaculate corruption. It defies common sense, and the people of America know this.”     Angelides Letter to Department of Justice