Financial Crisis Inquiry Commission: "Duh"

Leave it to government bureaucrats to come to a conclusion four years after the rest of us. But of course their reasoning for the financial crisis to have been "avoidable" is way off-base. How could a lack of regulation be to blame when the entire economy is micro-managed by central planners? Who could take this commission seriously with a statement like this:

It says the low interest rates brought about by the Fed after the 2001 recession; Fannie Mae and Freddie Mac, the mortgage finance giants; and the "aggressive homeownership goals" set by the government as part of a "philosophy of opportunity" were not major culprits. [emphasis mine]

Not major culprits? It's this type of analysis that has now plagued us with Dodd-Frank.