Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: Jim McMannis who wrote (570067)	6/3/2010 8:17:03 PM
From: tejek	of 1581651

Not at this point no but after 9-11 Greenspan lowered them way too far and held them there. Big mistake. He lowered the prime rate but that doesn't mean mortgage rates automatically go down. For an example, mortgage rates have come down half a point since April. Why? The prime hasn't changed at all during that time. Mort. rates are coming down because of what's happening over in Europe. The only thing that really can be tied to Greenspan is that he pumped up the economy with money. That made it easier for banks to lend. However, had they maintained good lending standards, the economic onslaught we encountered in 2008 would not have happened. We might have experienced a small housing bubble that would have depressed housing prices for a couple of years esp. in the more spec. markets like FLA, CA or NV but we would not have had anywhere near the cratering we did experience and continue to experience. Lack of regulation and silly banker exuberance coupled with some fancy footwork from Wall Street were the real culprits. After all, the pusher isn't the one that's responsible for making someone an addict, its the addict him/herself that's the guilty party.

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