The True Origins of This Financial Crisis: As opposed to a desperate liberal legend By Peter J. Wallison - pub. americanSpectator.com 2/06/09 http://spectator.org/archivs/2009/02/06/the-true-origins-of-this-finan
This morning I discovered the above referenced article, I thought you might find it interesting.Background:Peter Wallison was a member of the congressionally appointed Financial Crisis Inquiry Commission (FCIC). The Commission was charged with the responsibility of studying and reporting on the causes of the current financial crisis, which began in late 2006 with the significant deterioration of home prices and mortgage investments.The Financial Crisis Inquiry Commission issued it’s "Majority Opinion on the Causes of the Financial Crisis" on January 27, 2011.* The FCIC’s opinion included a dissenting opinion written by Keith Hennessey, Douglas Holtz-Eakin, and Bill Thomas . And, Peter Wallison wrote a separate dissenting opinion which was also included in the FCIC report. On May 16, 2011, Mr. Wallison published a more detailed “Dissent from The Majority Opinion of the Financial Crisis Inquiry Commission” see, amazon.com at: http://www.amazon.com/gp/customer-media/product-gallery/0844772305/ref=cm_ciu_pdp_images_0?ie=UTF8&index=0 .Watch a brief video-clip taken from a June 2, 2010 FCIC hearing during which Peter Wallison questions Warren Buffett about Buffett's thoughts on what caused the financial crisis.
If you would like to see other resources which provide insight into "The Role of the Government Sponsored Enterprises and Federal Housing Policy in the Financial Crisis", click: http://www.scribd.com/doc/106248756/The-Role-of-the-Government-Sponsored-Enterprises-and-Federal-Housing-Policy-in-the-Financial-Crisis
* "The Dodd-Frank Wall Street Reform and Consumer Protection Act" was signed into law on July 21, 2010 – five months and six days before the FCIC issued its “Majority Opinion”. Please draw your own conclusions as to why The Dodd-Frank Act was ‘crafted’ before the FCIC issued its findings.