The Boston and Atlanta Feds’ “Twelve Facts That May Surprise You About the Housing Bust” won’t be especially surprising to anyone who actually paid attention while the housing market was blowing up, but given the tone and substance of the policy debate since then, that wasn’t a lot of people. Still, the facts are facts: Resets of adjustable-rate mortgages did not cause the foreclosure crisis, for example, and mortgage market insiders were the biggest losers in the collapse, not conniving villains. All very sensible, and worth reading. The lack of a scapegoat will assure that the study will be ignored by the media and key members of Congress. . . .