January 27, 2011
Financial Crisis Inquiry Commission Issues Report
Relevant links can be found on the FCIC's website. Here is the conclusion:
[T]his crisis was avoidable—the result of human actions, inactions, and misjudgments. Warnings were ignored. “The greatest tragedy would be to accept the refrain that no one could have seen this coming and thus nothing could have been done. If we accept this notion, it will happen again.”
Prof. Bainbridge responds here.