William K. Black - professor of economics and the senior regulator during the S & L crisis - says that thatthe government'sentire strategynow - as during the S&L crisis - is tocover up how bad things are("the entire strategy is to keep people from getting the facts").
There has been no honest examination of the crisis because it would embarrass C.E.O.s and politicians . . .
Instead, the Treasury and the Fed are urging us not to examine the crisis and to believe that all will soon be well.
The gravest economic crisis since the Great Depression has been covered in the media largely from the top down, told primarily from the perspective of the Obama Administration and big business, and reflected the voices and ideas of people in institutions more than those of everyday Americans…
PhD economist Dean Baker made a similar point,lambastingthe Federal Reserve for blowing the bubble, and pointing out that those who caused the disaster are trying to shift the focus as fast as they can:
The current craze in DC policy circles is to create a "systematic risk regulator" to make sure that the country never experiences another economic crisis like the current one. This push is part of acover-up of what really went wrongand does absolutely nothing to address the underlying problem that led to this financial and economic collapse.