On May 5 and 6, the Financial Crisis Inquiry Commission (FCIC) held hearings on “the shadow banking system“.  Testimony was provided by, among others, former executives of Bear Stearns, former Treasury Secretary Henry Paulson and current Treasury Secretary Timothy Geithner.  In addition, a preliminary staff report on the shadow banking system was submitted to the FCIC on May 4.  Comments are requested by June 18.  Staff Report, and Hearings and Testimony.