“The FCIC majority (only Democrats, all Republicans dissented) thus seemed to have made up its analysis for why Fannie and Freddie bought all these risky NTMs (mortgages) in order to fit the conclusion it wanted to reach: that insufficient regulation and Wall Street greed — and not government housing policy — caused the financial crisis. This was a gross disservice to the American public, whose view of the financial crisis was deliberately distorted…

…The consequences include the 2010 Dodd-Frank Act, which has slowed the economy’s growth, and the absurd fight in the current Democratic presidential race about who will punish Wall Street the most.”, Peter J. Wallison, Arthur F. Burns Fellow in Financial Policy Studies at the American Enterprise Institute and commissioner of the Financial Crisis Inquiry Commission, “Sizing Up The Report of The Financial Crisis Inquiry Commission Five Years Later”, R Street Policy Study, March 17, 2016 

Sizing Up The Report of The Financial Crisis Inquiry Commission Five Years Later, R Street Policy Study, March 17, 2016

Posted on April 27, 2016, in Postings. Bookmark the permalink. Leave a comment.

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