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January 23, 2015

Hmmmmm...

From Instapundit, a new book alleges, get this, the central role of government in the housing crisis and the ensuing whitewashing and cover-up.

Subprime Scandal: We've long suspected the Financial Crisis Inquiry Commission wasn't honest in examining events before the meltdown. But an ex-commissioner says the probe was actually a full-blown political cover-up.

In a just-released book, former FCIC member Peter Wallison says that a Democratic Congress worked with the commission's Democratic chairman to whitewash the government's central role in the mortgage debacle. The conspiracy helped protect some of the Democrats' biggest stars from scrutiny and accountability while helping justify the biggest government takeover of the financial sector since the New Deal.

Wallison's sobering, trenchantly written "Hidden in Plain Sight: What Really Caused the World's Worst Financial Crisis and Why It Could Happen Again" reveals that the Democrat-led panel buried key data proving that the U.S. Department of Housing and Urban Development and other federal agencies pushed the housing market over the subprime cliff. The final FCIC report put the blame squarely on Wall Street.

In 2009, then-House Speaker Nancy Pelosi appointed her California pal Phil Angelides, a long-time Democrat operative, to lead the commission. The fix seemed to be in, and Wallison's account of the inner workings of the 10-member body confirms it.

I'll be downloading that.


digg this
posted by Ace at 01:05 PM

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