Em Portugal, diz-se, a crise tem, sobretudo, origem no facto de o povo estar a viver acima das suas possibilidades. Nos Estados Unidos, a Comissão de Inquérito à Crise Financeira põe o dedo na ferida de outro modo: parece que o erro é um pouco mais grave e vai desde a má gestão à falta de ética na condução dos negócios. Eis a síntese dessas conclusões no formato de transcrição de títulos:
- We conclude this financial crisis was avoidable.
- We conclude widespread failures in financial regulation and supervision proved devastating to the stability of the nation’s financial markets.
- We conclude dramatic failures of corporate governance and risk management at many systemically important financial institutions were a key cause of this crisis.
- We conclude a combination of excessive borrowing, risky investments, and lack of transparency put the financial system on a collision course with crisis.
- We conclude the government was ill prepared for the crisis, and its inconsistent response added to the uncertainty and panic in the financial markets.
- We conclude there was a systemic breakdown in accountability and ethics.
- We conclude collapsing mortgage-lending standards and the mortgage securitization pipeline lit and spread the flame of contagion and crisis.
- We conclude over-the-counter derivatives contributed significantly to this crisis.
- We conclude the failures of credit rating agencies were essential cogs in the wheel of financial destruction.