Greenspan Admits He Underestimated Subprime Problems

14 September 2007 No Comment

Big Dog, Little Dog

The Federal Reserve. Our whole lives revolve around it.

Will the Feds lower interest rates? Will they raise them?

We’ve had several years of the most fantastic opportunities to invest in real estate and to make money in real estate in our lifetimes and what happened?

People went crazy. Who’s to blame? Alan Greenspan, of course.

But is it really this simple?

Who’s fault was it really? And does it matter now?

But I like the answer one reader wrote for the blog, The Mess That Greenspan Made.

“Just abolish the Privately Owned Federal Reserve Bank Corporation, go back to a Gold and Silver backed currency. How many more times are we going to let the FED screw up our economy?”