Name and explain two of the reasons the congressional committee identified for the recent financial crisis?

The 2008 recession/financial crises one of the worst of its kind in a generation. Major economies including the United States and the UK suffered a period of recession, consistent low-growth, rising unemployment and many businesses closing down.

A 10-member committee called the Financial Crisis Inquiry Commission was setup by the US government to study the causes of the recession, in the hopes that a future similar crisis could be prevented.

In 2011, the committee released their findings and pointed out the two major reasons for the crisis:

1. The basic reason for the crises as the Collapse of the housing market.

2. Which in turn was fueled by toxic mortgages, low-interest and easy credit available to everyone and minimal regulation.

The report also pointed out vast problems of corporate governance, lack of government will and unpreparedness.

Avoid political parties don’t form foreign alliances and social reform

Yea where are the options?