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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (367208)	1/17/2008 11:28:08 AM
From: tejek	Read Replies (2) \| Respond to of 1575845

He lowered rates to ridiculous levels and held them there to long. Why are they ridiculous? All central banks of the major economies had their rates fairly low over the past few years. I think the BoJ was at 1% for years. The economy would have been just fine with higher rates. It's one thing to unwind the Dot.com bubble. You don't know that and even if its true, why keep interest rates artificially high because that's what you are comfortable with? Another thing to unwind a housing and credit bubble. Bernanke is under pressure to help housing with low rates but that has tremendous repercussions elsewhere... inflation, the dollar etc. Why don't we talk about the responsibility of realtors in this whole mess. I suspect you were playing it straight but how many agents were screwing around and in cahoots with lenders, fudging on loan requirements? I am sure you heard of people pulling stunts like no money down or interest rates starting at 3% with big resets two years down the road. Why did none of you complain when it was happening? Basically what Chris said Chris didn't say anything......he's off on a religious tangent.