RJA #10c: Objections

• The deregulation of the financial markets and the use of derivatives were not the cause of the financial crisis (Dissenting view of Peter Wallison, FCIC, Financial Crisis Inquiry Report, page 443).
• The cause of the financial crisis was, in fact, the proliferate of subprime mortgages in the years leading up to 2008 (Dissenting view of Peter Wallison, FCIC, Financial Crisis Inquiry Report, page 444).
• Not many people had said prior to the crash that the instruments and practices were too risky (Dissenting view of Peter Wallison, FCIC, Financial Crisis Inquiry Report, page 446).