The Financial Crisis Inquiry Report

I bought the Financial Crisis Inquiry Report, also known as Angelides Report. It is a US Government document issued by a Congressionally authorized committee. The Angelides report makes clear that the financial crisis of 2008 did not have to happen and it was caused by willful acts. Major banks decided to expand the real estate and mortgage bubble. They let udnerwriters underwrite mortgages that were not viable, by lenders that couldn't pay. The purpose of this was to have more mortgages to turn into huge Mortgage Backed Securities (MBS) deals, to promote trillions in financial speculation. When the real estate bubble crashed, the US Treasury had to pay the bill. That's why we need Glass Steagall now, HR 1489, to cut the backing of this speculative stuff.