Causes and consequences of the current "subprime" financial crisis are analysed. The large number of fraudulent and criminal mortgages obtained by means of false statements unverified by the mortgagees, explains why this crisis was not predicted. The crisis was enhanced by unwise regulations...

The Final Report of the National Commission on the Causes of the Financial and Economic Crisis in the United States was released on January 27th, 2011. The strong political differences within the commission prevented the draft of a shared report. In addition to the majority report, two...