Greenspan Concedes Mortgage Dilemma
Greenspan Concedes Mortgage Dilemma
Former Federal Reserve Chairman Alan Greenspan acknowledges he failed to see early on that an explosion of mortgages to people with questionable credit histories could pose a danger to the economy.
If we take him and Gonzalez (and others in our government) at their word, which I don't, we really have some real dolts running the shop because this was brutally apparent to ME years ago - like around 2003 or earlier though it looks like I started writing/linking about it around 2005. Trust me when I say that me and my buddy had passionate discussions about this topic - he of the mind that the affect would be localized and not affect the bay area and me of the mind that the shit storm would affect us all in some way (but that some real estate would be safer than others).
Anyway, my rambling point is this: fuck we have dumb 'leaders' and now it seems they use their dumbness as a valid excuse! WTF.
Former Federal Reserve Chairman Alan Greenspan acknowledges he failed to see early on that an explosion of mortgages to people with questionable credit histories could pose a danger to the economy.
If we take him and Gonzalez (and others in our government) at their word, which I don't, we really have some real dolts running the shop because this was brutally apparent to ME years ago - like around 2003 or earlier though it looks like I started writing/linking about it around 2005. Trust me when I say that me and my buddy had passionate discussions about this topic - he of the mind that the affect would be localized and not affect the bay area and me of the mind that the shit storm would affect us all in some way (but that some real estate would be safer than others).
Anyway, my rambling point is this: fuck we have dumb 'leaders' and now it seems they use their dumbness as a valid excuse! WTF.
