Peter Wallison News
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The Justice Department decision to sue Standard & Poor’s has investors asking why Moody’s Investors Service and Fitch Ratings weren’t targeted for awarding the same top grades to troubled mortgage bonds and other debt securities.
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Bear Stearns Cos.’s rescue by JPMorgan Chase & Co. , facilitated with government guarantees, was the “original sin” made by regulators in 2008 because it signaled that other firms would get aid, said Peter Wallison of the Financial Crisis Inquiry Commission.
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As should be abundantly clear by now to anyone who has taken the time to study things carefully, there were many factors that contributed to the calamitous financial crisis of the last three years.
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You are President Barack Obama , and your Summer of Recovery is looking like most lawns in the Northeast.
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The federal commission that investigated the origins of the financial crisis is set to issue three competing conclusions next week.
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If you and I were in a bar together, and you suffered a nasty bump on your head when I accidentally whacked you with a pool cue, there probably would be no disputing that my action caused your harm. But for my careless swing of the stick, the injury wouldn’t have happened.
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With the ink barely dry on the Financial Crisis Inquiry Commission ’s assessment of the 2008 market meltdown, the group is turning to other pursuits: infighting and preparing for congressional investigations.
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Move over too-big-to-fail. Here comes too-big-to-manage.
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In spite of differences between Democrats and Republicans on reforming housing finance, both sides back proposals that would make mortgages more expensive and difficult to obtain.
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“Have It Your Way,” the Burger King slogan goes. And most politicians do, twisting words to fit their interests. But sometimes they go beyond french-frying facts to serving whoppers.
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