In the latest Financial Services Outlook, American Enterprise Institute (AEI) housing experts Peter Wallison and Edward Pinto explain how decades of government intervention have gravely harmed America's housing market.

It’s depressing to watch, but it is missing the point that the Volcker rule would not have prevented the loss and is probably unworkable.

The Federal Housing Administration (FHA) uses lax accounting standards that obscure the fact that it is deeply insolvent, with a looming shortfall of tens of billions of dollars that American taxpayers will have to make up.

Sir, Edward Luce's description of the competing views in the US about both the financial crisis and a supposed "crisis of capitalism" was a caricature, particularly his discussion of the view he ascribed to the Republicans ("America's three views on the crisis", March 19).

The Aspen Institute will host AEI scholars Scott Gottlieb, M.D., Charles Murray, Marc A. Thiessen, and Peter J. Wallison for a series of policy talks on health care reform, class in America, the global war on terror, and the US housing market.

The Occupy Wall Street phenomenon is perfectly understandable if we recognize it as an artifact of the conventional narrative about the financial crisis—that it was caused by Wall Street greed and insufficient regulation. If the demonstrators new the truth—that the government's housing policy caused the financial crisis and the subsequent recession—they would be on the Capitol steps.

The FCIC's report fails to address the cause of the deterioration in mortgage underwriting standards that led to the housing bubble widely accepted as the key factor in destabilizing the American economy.

AEI scholars Peter J. Wallison, Alex J. Pollock, and Edward Pinto will release a new AEI white paper outlining four principles for reform of US housing policy, the protection of taxpayers, and the prevention of future financial crises caused by housing policy.