Usually, any statement or report emanating from government, any government white paper, is a lie, but in a remarkable fluke outburst of truthfulness, the U.S. House of Representative Committee on Oversight and Government Reform has issued a report: The Role of Government Affordable Housing Policy in Creating the Global Financial Crisis of 2008
The long and the short of the report being that the government pressured financiers to issue easy money bad loans to irresponsible borrowers, which government policy eventually blew up. Of course, if you have been reading the blogs, that is not news to you. For several years you heard that was going to happen, and then for a couple of more years you heard that is what did happen, but it is most astonishing to hear it from the government itself!