Regulators, politicians and bankers were to blame for the 2008 US financial meltdown. That’s according to a report by the US Financial Crisis Inquiry Commission, tasked with establishing the causes of the crisis. The report highlighted excessive risk-taking by banks and neglect by financial regulators. They include bosses of big Wall Street banks, current and former Treasury Secretaries and heads of the federal Central Bank. This financial crisis could have been avoided. It was as a result of human action, inaction and misjudgment not of mother nature or computer models gone haywire. The captains of finance and the public stewards of our financial systems ignored warning and importantly failed to question, understand and manage the evolving race in the financial system,” Phil Agelides chairman of the Commission said. All four Republicans on the commission announced several weeks in advance of the report's publication that they would not agree with its findings. Three of them published a separate report that insisted that blame should be attributed to Mr. Greenspan's Federal Reserve. The fourth produced his own report focusing on the role of government in creating the housing bubble. Source: Joy Business/Myjoyonline.com/Ghana