Skip to content
Subscriber Only

Roots of Crisis Buried Deep After Inquiry: Peter J. Wallison

No one wants to excuse the managers and regulators of financial companies from responsibility for the financial crisis. But it is too easy to assign blame and walk away, without doing the serious work of finding out what really happened.

This observation was triggered by news last week that the U.S. Securities and Exchange Commission is considering an enforcement action against Daniel Mudd and Richard Syron, the chief executives of Fannie Mae and Freddie Mac, respectively, before the two government-sponsored enterprises collapsed.