The Obama Administration used this whitewash as a basis for enacting the Dodd-Frank Act (DFA) to more heavily regulate the financial services sector.
Peter J. Wallison was a member of the Inquiry Commission and a dissenter in the Commission's erroneous conclusions. He tells why in an article for the American Spectator. He writes:
The DFA was sold to the American people by the media and the Obama administration as necessary to prevent another financial crisis, but as outlined in this article and made very clear in my dissent, the financial crisis was not caused by weak or ineffective regulation. On the contrary, the financial crisis of 2008 was caused by government housing policies -- sponsored and promoted by many of the same people who framed and ultimately enacted the DFA.Read his entire article here. It is a good article to bookmark because Dems will issue all sorts of propaganda in the coming election campaign, in order to sidestep their guilt in the financial disaster.