Greenspan's Last Fan


	Greenspan's Last Fan

Maurna Desmond

3-30-2009 5:48 PM

346 views

Maurna Desmond says:

Blaming the last Fed chairman is a pasttime that is headed out of fashion.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/c67caaac-f84a-49af-b5cb-bcf31a34c4f8/08A2F714-7FDF-4920-B9B0-13E6359EA0C8/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://seekingalpha.com/article/128298-wsj-housing-bubble-symposium-greenspan-supporters-not-extinct" href="http://seekingalpha.com/article/128298-wsj-housing-bubble-symposium-greenspan-supporters-not-extinct" style="font-size: 11px;">seekingalpha.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://seekingalpha.com/article/128298-wsj-housing-bubble-symposium-greenspan-supporters-not-extinct"><P>Moreover, if the Fed was the culprit, why was the housing bubble world-wide? Do Mr. Greenspan's critics seriously contend that the Fed was responsible for high housing prices in, say, Spain?<BR />...<BR />But to the extent that the federal government is to blame, the main fed culprits are the beefed up Community Reinvestment Act and the run-amok Fannie Mae and Freddie Mac. All played a key role in loosening lending standards.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://seekingalpha.com/article/128298-wsj-housing-bubble-symposium-greenspan-supporters-not-extinct"><DIV>He goes on to prove that the ranks of Greenspan sycophants has not yet dwindled to zero.</DIV></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/08A2F714-7FDF-4920-B9B0-13E6359EA0C8/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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