Wednesday, April 7, 2010

Greenspan: congress helped cause housing boom/bust

Congress loves to blame the "evil" bankers. In reality, it was congress and the greedy borrowers, who caused this disaster. The lenders just maximized the structure set in place by Democrats in congress.
Reuters:
http://us.mobile.reuters.com/mobile/m/AnyArticle/p.rdt?URL=http://www.reuters.com/article/idUSWAT01427220100407
""Former Federal Reserve Chairman Alan Greenspan chastised critics on Wednesday by pointing out that Congress pushed the U.S. central bank to make sure lending to poorer Americans kept rising in the 2000s."

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