Burns, the banks were just in too much hurry to make fast money.
This isn't just about the banks.
In his article on your opinion page, “The Fed Didn’t Cause the Housing Bubble,”
Greenscam is full of shit. If I were forced to point at a single person responsible and no one else, it would be Greenscam.
Alan Greenspan is a liar.
Yes he is, and so is Helicopter Ben.
The Federal Reserve and its long standing partner, the US Treasury, engineered the housing bubble, including the fraudulent inducement of America as part of a financial coup d’etat. Our bankruptcy was not an accident. It was engineered at the highest levels.
Never attribute to malice that which can adequately be attributed to stupidity. The housing crisis was created by actions at the highest levels. The Fed. The Treasury. Various Administrations. And Congress.
We thought we could get something for nothing..higher home ownership and an expanding economy..by playing with the currency and mandating risky loans. That was compounded by an incredible myopia in the private sector regarding the security of the debt instruments.
This problem is not going to go away FOR YEARS.
Helicopter Ben's Fed now plans to pump hundreds of billions more into the economy in order to somehow prop up home prices.
What a joke.
The Fed has little control over where the money goes after it exists the factory. It will raise prices on many things....except what they want to jack up most: real estate.
BTS