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Politics : Welcome to Slider's Dugout
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To: SliderOnTheBlack who wrote (10782)7/16/2008 6:18:48 PM
From: surelockhomes  Read Replies (1) of 50101
 
I think maybe you give Greespan to much credit. Yes he started it with ultra low rates, but wall street perpetuated it with creative instruments and leverage. The low rate loans continued even after the Fed raised rates. But most of that crap has blown. No more low rates. All the Fed has now is the Prime rate which was low to begin with that got the debt bubble going. They need to get it lower again soon, as that's all there is now. The longer they wait, the more traction deflation gets.
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