Under this man’s tutelage we have experienced multiple bubbles. That is ok.
What is patently wrong, is he had to know that giving loans to people who could not ultimately pay was wrong.
Even worse, I saw him on TV actually say he recommended everyone get an ARM loan as interest rates would stay low.
What he didn’t say was be careful, you won’t be able to refinance when you need to….Now all of America has to pay.
Where is Volcker when we need him?
Poor Ben, he will spend years as a janitor trying to clean up the Greenspan mess.
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