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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Jim McMannis who wrote (118718)4/27/2008 9:44:04 AM
From: Pogeu MahoneRead Replies (1) of 306849
 
WTF?

That article is nonsense:


"Those who blame Greenspan for the housing crunch usually say he kept interest rates too low for too long, thereby encouraging market speculation with cheap borrowed money. Indeed, he kept rates at a record-low 1% from June 25, 2003, to June 30, 2004.

The problem with this argument -- and Greenspan's defense of himself -- is it has things exactly backward. The trouble came not from being too loose with credit, but too tight."
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