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…the Democrat-led panel buried key data proving that the U.S. Department of Housing and Urban Development and other federal agencies pushed the housing market over the subprime cliff. In 2009, then-House Speaker Nancy Pelosi appointed her California pal Phil Angelides, a long-time Democrat operative, to lead the commission. • Angelides buried evidence revealing that by 2008, three in four high-risk mortgages wound up on the books of HUD-controlled Fannie Mae and Freddie Mac or agencies such as the Federal Housing Administration. A data-rich memo by former Fannie Mae chief credit officer Ed Pinto proved that government, not the private sector, drove risky lending. But Pinto's research "was never formally made available by the chair or staff to the other members of the FCIC," Wallison writes. Fannie and Freddie, now under full federal control, are back making low down payment loans to low-income borrowers, and the Dodd-Frank-mandated Consumer Financial Protection Bureau is forcing banks to ignore credit risks in the name of affordable housing. A corrupt investigation led to corrupt reforms. Investor's Business Daily:[...] …