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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Skeeter Bug who wrote (233696)	12/18/2009 2:54:39 PM
From: grusum	Read Replies (1) \| Respond to of 306849

"he wasn't dumb, he just did his job" one of the dual mandates that his job requires, is that he engineer full employment. in order to do that, he thought he should lower interest rates. that's where he's dumb. he thought he was smart enough to know where interest rates should be. but no one knows that. when he lowered interest rates money got cheap and looked for a place to. thanks to creeps like dodd and fwank (as well as a few laws passed to promote the 'ownership' society') the cheap money found its way into housing. the dirty work was done and everything else followed. but it could have never started without greenspan and government interference.