On Tue, Jan 20, 2009 at 5:06 PM, Gruss Gott <[email protected]> wrote:
> If Bush perceived that as a problem why didn't he replace Greenspan, > deal with it through Treasury, or go public with problem? That's my complaint. > Didn't Bush in fact wholly endorse lowering rates to the tune of 11 > times in 2001? And continuing through almost all of his presidency? In 2001 yes, the rest of his term, no. Greenspan was also big on encouraging ARMS. But Bush doesn't influence the Fed, he trusts in him. It's one of the many choices, leftovers like Freed and Tenet, that he should have dumped and didn't. > Oh, and it's not a "housing crisis" since sub-prime is only $1 > trillion in total and only a fraction of that has gone under. You're still on that? The housing crisis led to the banking crisis which caused the auto crisis. Now everyone's afraid of losing jobs so they're not buying unneeded crap. There goes retail stores. > That's like Bush ducking that shoe and saying he's got a flying shoe crisis. That works better if compared to you and your derivative crisis. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:285918 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
