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Dissent from the Majority Report of the Financial Crisis Inquiry Commission


  • Peter J. Wallison

    (American Enterprise Institute)


The FCIC's report fails to address the cause of the deterioration in mortgage underwriting standards that led to the housing bubble widely accepted as the key factor in destabilizing the American economy.

Suggested Citation

  • Peter J. Wallison, 2011. "Dissent from the Majority Report of the Financial Crisis Inquiry Commission," Books, American Enterprise Institute, number 50848, September.
  • Handle: RePEc:aei:rpbook:50848

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    Cited by:

    1. Dwight Jaffee & John M. Quigley, 2012. "The Future of the Government-Sponsored Enterprises: The Role for Government in the U.S. Mortgage Market," NBER Chapters, in: Housing and the Financial Crisis, pages 361-417, National Bureau of Economic Research, Inc.
    2. Akhand Akhtar Hossain, 2015. "The Evolution of Central Banking and Monetary Policy in the Asia-Pacific," Books, Edward Elgar Publishing, number 14611.
    3. Robert B. Avery & Kenneth P. Brevoort, 2015. "The Subprime Crisis: Is Government Housing Policy to Blame?," The Review of Economics and Statistics, MIT Press, vol. 97(2), pages 352-363, May.
    4. Adam J. Levitin & Susan M. Wachter, 2013. "Why Housing?," Housing Policy Debate, Taylor & Francis Journals, vol. 23(1), pages 5-27, January.
    5. Valentin Bolotnyy, 2014. "The Government-Sponsored Enterprises and the Mortgage Crisis: The Role of the Affordable Housing Goals," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 42(3), pages 724-755, September.
    6. Volkova, O., 2018. "Fair Value in Finance: Fifty Shades of Fairness," Journal of the New Economic Association, New Economic Association, vol. 39(3), pages 85-109.
    7. Calomiris Charles W, 2011. "Comment on "Implementing a Macroprudential Framework: Blending Boldness and Realism" (by Claudio Borio)," Capitalism and Society, De Gruyter, vol. 6(1), pages 1-9, August.
    8. Santos, Tano & Veronesi, Pietro, 2016. "Habits and Leverage," CEPR Discussion Papers 11681, C.E.P.R. Discussion Papers.
    9. Michael Insler & Kurtis Swope, 2016. "School Quality, Residential Choice, and the U.S. Housing Bubble," Housing Policy Debate, Taylor & Francis Journals, vol. 26(1), pages 53-79, January.
    10. Lee, Hyojung & Bostic, Raphael W., 2020. "Bank adaptation to neighborhood change: Mortgage lending and the Community Reinvestment Act," Journal of Urban Economics, Elsevier, vol. 116(C).
    11. Tano Santos & Pietro Veronesi, 2016. "Leverage," NBER Working Papers 22905, National Bureau of Economic Research, Inc.

    More about this item


    2008 financial crisis;

    JEL classification:

    • A - General Economics and Teaching


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