... Bank of New York, the Department of Housing and Ur-ban Development, the Oce of the Comptroller of the Currency, the Oce of Fed-eral Housing Enterprise Oversight (and its successor, the Federal ... States.” In this report, the Com-mission presents to the President, the Congress, and the American people the results of its examination and its conclusions as to the causes of the crisis. More than ... to launch and expand the market and, in turn, to further fuel the housing bubble.Second, CDS were essential to the creation of synthetic CDOs. These syntheticCDOs were merely bets on the performance...