The Financial Crisis Inquiry Report
Final Report of the National Commission on the Causes of the Financial and Economic Crisis in the United States
The official report of the commission Congress set up to establish what caused the 2008 crisis. It concludes that the crisis was avoidable, and blames failures of regulation, corporate governance and risk management rather than bad luck, naming firms and individuals throughout. The majority findings are printed with the dissents, which disagree fundamentally about the role of government housing policy.
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Francis Fukuyama
It’s mostly the dissent, which basically shows this amazing phenomenon, that the Republicans have not been able to learn from the past 30 years. Especially the Wallison dissent, which takes what is a very complex crisis that has multiple roots and lays it all at the door of Fannie and Freddie and government intervention. It seems to me transparently designed to exonerate free markets.
Interview · January 2017
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