On Wed, Mar 11, 2009 at 3:16 PM, Gruss wrote:

>
> I agree, there definitely is a "housing crisis".  It, and our credit
> crisis, was fueled by a combination of horrific *democratic driven*
> GSE policy (and there's PLENTY of truth to fannie/subprime thing,
> except the GSEs never made a bad loan, just bought MBSs which was
> actually worse but that's another story) and complete head-in-the-sand
> management by the Bush administration.
>

sounds about right to me.


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