From the WASHINGTON POST:
Goldman Sachs fueled the subprime mortgage bubble and bust. Merrill Lynch didn’t tell the public about the true state of its financial condition. Fannie Mae and Freddie Mac borrowed far too much money.
And regulators from the Federal Reserve to the Securities and Exchange Commission and other agencies failed to stop these worrisome practices-and made debatable decisions even after the financial system began to collapse.
These are among the findings of the U.S. government’s official report on what caused the financial crisis, a series of shocks that culminated in the stock market fall of 2008 and a widespread recession…
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