The Greenspan Gospel

Alan Greenspan steered the economy through turbulence to unprecedented growth. At a time of new uncertainty, a look at his legacy.

By Daniel Gross | Newsweek Web Exclusive

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  • Posted By: indiealltheway @ 09/21/2008 10:10:37 AM

    Greenspan is to blame BUT he did not write the legislation so he is not FULLY to blame.
    His job was to advise and suggest and he did and what he suggested was
    1) laxer rules with new LOAN products with Interest Only and 0% down
    Greenspan is to BLAME be the American people were the greedy ones to take advantage of the new rules GREENSPAN suggested and the CONGRESS wrote and approved and CLINTON approved.
    #1 Greenspan
    #2 Congress
    #3 Clinton
    #4 Barny Frank who loosened the rules even more to allow poor people to BENEFIT from the home pric increases.. Thanks Barney you just let POOR people suffer more than they could have ever imagined.

    Read the The Home Ownership and Equity Protection Act enacted by Congress in 1994 before you think you know anything about this issue.

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