It's a hoax. Check abovetopsecret.com, my old conspiracy haunt. The folks there are pretty good about tearing these things apart, and getting to the truth of it. I used to be pretty big into UFOs, even since a kid, but even though I fully believe the evidence supports visitation, a) the majority of sightings are misidentifications, b) many hoaxes, and c) many crazies in the field just trying to make a buck. Also, the evidence supports an ongoing coverup since '42, and enacted a policy of public ridicule in the 50's, to pretty much ensure that any real evidence quickly makes its way to such personnel. The funny part, is that the whole history of the coverup groups and their personnel is pretty much available, if you separate the wheat from the chaff.
First, from its roots as the IPU (or Interplanetary Phenomenon Unit) in the early 40's, to the Working Group in the mid 40's, to MAJIC (or Military Assessment Joint Intelligence Committee) in '47 after Roswell. Roswell was really the key event, as apparently this is when we recovered at least some intact debris where we could learn something. This resulted in the centralization of all intelligence via the National Security Act (incidentally also creating the Air Force). The big records fire in '47 (done specifically to help hide the trail of almost all documents mentioning the recovery, and hide key personnel) pretty much ends much of the trail of the group after the MAJIC designation, though other sources support the use of the moniker at least until the mid-80's.
Around the time of Project Blue Book, it was decided to go full bore with the ridicule strategy, and this has worked ever since. The Condon Committee and Robertson Panel pretty much ended the public-facing interest in the phenomenon.
Now, you can believe it all or not, or some, or all of it. But there is a lot of information out there, if you really look. I spent years on it myself, as a hobby, never for profit, and I'm pretty satisfied at where I left it (a lot of it is on the site I first mentioned). For whatever reasons, it appears both parties (aliens and governments) are content to let it stay secretive. The only real question to ask is, "What do they want from us?". That's the part that bothers me. It must be something we won't be happy about. Only thing that makes sense.
