It's being crafted by bankers, congressional Republicans and former Fed Chairman Alan Greenspan, writes Phil Angelides, the former California Treasurer who chaired the Financial Crisis Inquiry Commission. From his Washington Post oped:
The report of the Financial Crisis Inquiry Commission detailed the recklessness of the financial industry and the abject failures of policymakers and regulators that brought our economy to its knees in late 2008. The accuracy and facts of the commission's investigative report have gone unchallenged since its release in January. So, how do you revise the historical narrative when the evidence of what led to economic catastrophe is so overwhelming and the events at issue so recent? You and your political allies just do it. And you bet on the old axiom that a lie is halfway around the world before the truth can tie its shoes.
Actually, the Angelides report is an impressive chronicle of what caused the near meltdown, but like all government investigations it's received limited attention.