While Democrats have and will continue to deny any responsibility in the Housing bubble burst, a whistle blower has come forward and has blown the cover of their involvement.
The relaxing of mortgage regulations during the Clinton administration's footsy playing under the table with Wall Street Bankers and the dems gamble by insistence there was no problem even after the Bush administration expressed concerns to the House and Senate Banking Committees, brought the fiasco that help plunge America into the worst session in decades. Democrats in congress took on the arduous task of investigating for the American taxpayer.
"We've long suspected the Financial Crisis Inquiry Commission wasn't honest in examining events before the meltdown. But an ex-commissioner says the probe was actually a full-blown political cover-up.
In a just-released book, former FCIC member Peter Wallison says that a Democratic Congress worked with the commission's Democratic chairman to whitewash the government's central role in the mortgage debacle. The conspiracy helped protect some of the Democrats' biggest stars from scrutiny and accountability while helping justify the biggest government takeover of the financial sector since the New Deal.
Wallison's sobering, trenchantly written "Hidden in Plain Sight: What Really Caused the World's Worst Financial Crisis and Why It Could Happen Again" reveals that the Democrat-led panel buried key data proving that the U.S. Department of Housing and Urban Development and other federal agencies pushed the housing market over the subprime cliff.
In 2009, then-House Speaker Nancy Pelosi appointed her California pal Phil Angelides, a long-time Democrat operative, to lead the commission.
The fix seemed to be in, and Wallison's account of the inner workings of the 10-member body confirms it. Here's what took place during the FCIC's 18-month, $10 million probe: READ MOREThe media's refusal to throughly investigate, and pinning of the resulting fall of the economy on the Bush administration, allowed Rep. Barney Frank and Sen. Christopher Dodd to leave office unscathed under the cover of the still democrat controlled congress and the Obama Administration.