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Politics : The Obama - Clinton Disaster
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To: Kenneth E. Phillipps who wrote (4728)1/11/2009 3:53:11 AM
From: DuckTapeSunroof   of 103300
 
Re: "Taking away the punch bowl is something which Greenspan should have done but didn't do."

Yep. Possibly he was too preoccupied with all the laurel leaves being strewn in his path, and all the 'hosannas', to stop and actually perform his role as a central banker.....

Re: "Allowing the Fed Funds rate to remain at 1% or close to 1% for an extended period of time certainly was a major factor in causing the mortgage crisis."

Allowing it for TOO LONG (an important distinction) is what allowed the bubbles to multiply. On the other-hand it's what allowed Bush to run his wars without anyone actually having to be economically inconvenienced.

Re: "The failure to regulate by the Fed and SEC were also major factors."

Also true. With 'no cops on the beat', and 'free money' laying around for the grabbing... human nature asserted itself.
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