ST Alpha - "*gasp* Greenspan says he was wrong about deregulation -- (link)" (Reading a Post)

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gasp Greenspan says he was wrong about deregulation -- (link)

Posted by znufrii Oct 23 '08, 09:25

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http://www.nytimes.com/2008/10/24/business/economy/24panel.html?hp (www.nytimes.com)

Responses:

[deleted] 19
- He would say that, because he was the one who kept interest rates too low, which meant that money was too cheap, which meant that - Roger More Oct 23, 09:46
- Everybody is to blame here... - Marlowe Oct 23, 09:33 15
  - [deleted] 14
    - I disagree. - ty97 Oct 23, 09:40 13
      - [deleted] 11
        
        If the homeowners never take the loans, then the bank never give the loans, and the bad loans never exist. - ty97 Oct 23, 09:45 5
        
        [deleted] 4
        
        Homeowners taking loans they couldn't afford to pay is just just a tangential item. It is a direct cause of the problem. - ty97 Oct 23, 09:54 3
        
        [deleted] 1
        
        of course one homeowner did not. many homeowner, however, contributed -- nm - ty97 Oct 23, 10:01
        
        *not* just a tangential item -- nm - ty97 Oct 23, 09:54
        
        If I know that you bought a hot-dog you can't pay for, I'm not loaning you money.. (NM) - Marlowe Oct 23, 09:44 1
        
        [deleted]
        
        Because when they all default on their loans within a very short period, no one has confidence to lend money any more -- nm - Roger More Oct 23, 09:44 2
        
        [deleted]
        
        and when they're bundled and sold as securities, those securities are now worthless. -- nm - mafic Oct 23, 09:47
      - Yep.. (NM) - Marlowe Oct 23, 09:41
- Crazy talk. It's all on the black people that wanted to buy homes. -- nm - Reagen Oct 23, 09:31 1
  - [deleted]
He's a Socialist!! -- nm - Don Homer Oct 23, 09:26
"We call it the Greedy Dumbass Corollary." -- nm - Reagen Oct 23, 09:26

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