Fin. Disaster Inquiry Comm.

[maxx]

Sounds like this first analysis was about as hard-hitting as a cream puff. Congress got what it wanted, a report with no new information.

http://www.nytimes.com/2011/01/30/op...30partnoy.html

Wallison's dissent from the Republican dissent was what one would expect from someone associated with the American Enterprise Institute. His conclusion was that gov. housing policy was ultimately responsible for the housing bubble, not Phil Gramm's deregulation of banking or the deregulation of derivatives or the change in the tax laws which allowed houses to be sold without capital gains tax.

A policy is only as good as the manner in which it is carried out. And with the Republicans' almost automatic attempt to blame the CRA for the crash when ground zero was in places like Stockton, CA, one could surmise that it was all designed to bring down the middle class while blaming the poor. There are way too many voters who are ready to latch onto a simple explanation for a complex situation especially when they are given the usual scapegoat like the poorer members of our society.