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

To: bentway who wrote (367252)	1/17/2008 7:30:36 PM
From: tejek	Read Replies (1) \| Respond to of 1573711

Critics blame the ultra-low interest rate policies of the final Greenspan years -- when the U.S. central bank steered overnight federal funds rates to 1 percent and held them there for a prolonged period of time -- for fueling the housing bubble. Its bullshit.....if the lenders had not gotten overly 'creative' with their loan origination and permitted a lapse in good lending practices, we would be having minor indigestion right now as opposed to an ulcerated stomach that's bleeding badly. Volcker, a towering man known widely as 'Tall Paul', is credited with breaking the back of rampant 1970s inflation by aggressively tightening monetary policy, for which he was greatly criticized in some quarters at the time. A different time....different circumstances.