If you doubt that there was a concerted effort to bury the findings of the Financial Crisis Inquiry Commission, contrast the 60 Minutes report with the dissent by Peter Wallison.
Here's what 60 Minutes learned from Tom Borgers, a seasoned fraud investigator, who worked for the Financial Crisis inquiry Commission:
Borgers tells [Steve] Kroft that the FCIC found evidence of trillions of dollars of fraud and gross negligence, and that in the area of mortgage fraud, he found crimes committed by "mortgage originators, underwriters, banks . . . across the board."
Yet Peter Wallison, the FCIC Commissioner from The American Enterprise Institute, mentioned the word "fraud" only once in his 50,000-word dissent to the FCIC Report. If you doubt that there is a concerted campaign to promote The Big Lie about the origins of the financial crisis, read the following:
The Commission’s report also blames predatory lending for the large build-up of subprime and other high risk mortgages in the financial system. This might be a plausible explanation if there were evidence that predatory lending was so widespread as to have produced the volume of high risk loans that were actually originated. In predatory lending, unscrupulous lenders take advantage of unwitting borrowers. This undoubtedly occurred, but it also appears that many people who received high risk loans were predatory borrowers, or engaged in mortgage fraud, because they took advantage of low mortgage underwriting standards to benefit from mortgages they knew they could not pay unless rising housing prices enabled them to sell or refinance. The Commission was never able to shed any light on the extent to which predatory lending occurred. Substantial portions of the Commission majority’s report describe abusive activities by some lenders and mortgage brokers, but without giving any indication of how many such loans were originated.
Yet the promoters of The Big Lie are still treated as mortgage "experts" by The Wall Street Journal op-ed page and by the Republican members of House Financial Services Committee. Which is why we need to keep pointing them out for what they are, liars.