I don't blame the crisis on him, just saying he encouraged it by continuing to lower rates even after the problems started to show, then wrote a book blaming Bush. He had too long of a run and I stopped trusting his judgment in the 80's.
On Mon, Jan 26, 2009 at 10:58 AM, Won Lee <[email protected]> wrote: > Even if the housing crisis was predictable, the degree of it wasn't. The > primary job of the FED is to fight inflation, not making overt moves to > support or inflate the stock market or housing markets. The lower rate > shouldn't have been a problem except the mortgage lenders were too lax > with applications. This of course was a natural byproduct of low rates > but shouldn't have happened. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| 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:286717 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=11502.10531.5
