Thank goodness! Now we know. On January 27, 2011, a divided Financial Crisis Inquiry Commission released its final 662-page report regarding the causes of the 2008 financial crisis. The six-member majority concluded that the crisis was avoidable, and assigned culpability to a number of factors and players, including all of the usual suspects: failures of corporate governance, too much risk taking, compensation that rewarded short-term gain, lack of preparation by key agencies, and failures of credit reporting agencies. The five minority members beg to differ, and in their dissent they identify 10 different causes.
What did you expect, Camus? This is more like Gilligan’s Island (Season Two), except there’s less character development. For a copy, see http://www.fcic.gov/report.