Reuters News:
Former Federal Reserve Chairman Alan Greenspan denied that the U.S. central bank helped inflate housing prices and isn't to blame for the subprime fiasco.
Grandpa: of course you are not to blame Alan. For the record oh great one:
1. 2005 grandma and grandpa were in real estate
2. we sold and bought a house the same year
3. held a grandma/grandpa meeting to discuss the real estate marketplace
4. reason for meeting: knew the market could not continue its illogical rise
as people brought along a friend to fog the mirror so they could
secure a mortgage
5. grandpa calculated that many "boutique" real estate brokers would
fold and grandma would be better served with a larger and more
financially sound broker
6. grandma moved to a different broker, real estate market crashed and prior
"boutique real estate broker" is no longer with us...
7. you see Alan, we are just those simple folk, not part of the elite D.C.
or Wall Street crowd. We pay our bills, assume responsibility for our
decisions. We simple folk do not compromise our values based on the
need for re-appointment or re-election.
Hey Alan, offer my simply, left brain, realist and "pragmatic perspective" consulting services to Helicopter Ben as he is singing the same tune! I will not hold my breath as I am quite sure you do not see the Bernanke bubble filling.....
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