Coca-Cola said:
what a jackass Greenspan is. He is the one who started all this crap back in 1987. he created the bubble. I remember him and clinton laughing about lowering interests rate would solve many problems but it started the bubble. clinton and Bush wanted more americans to own homes and they allowed banks to create loan practices that made almost anyone to buy a house - and made billions for those people who got us into this mess. Greenspan should be ashamed of himself. |
He did say a McCain plan would be even worse.
OT: A lot of foreign markets are tied into the U.S. home buying market. It was easy money for them. Why? They could fund the banks and survive if foreclosures hit. The banks would resell the property and still make loot. However, the foreclosures are too many and it's killer surplus out there. Homes aren't selling. So, banks are left holding the bag and can't get money off them. Now, the foreign markets are taking a hit. It can only get worse.
