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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (121247)	9/19/2012 11:56:19 PM
From: tejek	Respond to of 149317

It's not BS Ted. It's fact. However there is not an easy one step cause. It was more like a perfect storm of numerous variables coming together. Greenspan however could have put the kabosh on much of it by keeping rates higher and not pouring gasoline on it. He clearly let it go on way too long and misunderstood the implications of bubbling RE. Its BS. You know it as well as I do. Low interest rates would go no where if loan officers didn't approve weak credit reports, appraisers didn't fudge their appraisals to meet over inflated housing prices, bankers didn't create flaky mortgage instruments and wall street didn't offer them derivatives that nicely hid the junk loans that were getting approved. All that crap did not go on in the 90s............but rather it started under Bush when the real estate industry knew no one was watching. For once in your life get honest McMannis.When you do, you might learn to vote the right way.

To: Jim McMannis who wrote (121247)	9/20/2012 12:09:55 AM
From: John Vosilla	Read Replies (2) \| Respond to of 149317

Interest rates are much lower now than 2003-04 yet no bubble this time? The Fed are also were regulars of the banking system besides setting monetary policy dropped the ball in every way possible<ng>.. Federal Reserve Board of Governors It also supervises and regulates the operations of the Federal Reserve Banks, and the U.S. banking system in general. en.wikipedia.org