Sunday, April 04, 2010

Man O' Krug

"Back to the housing bubble: Greenspan’s whole defense now is that nobody saw it. But there were an awful lot of nobodies — Dean Baker, Bob Shiller, Calculated Risk, and yes, yours truly. What’s probably true is that nobody Greenspan talked to regularly saw it. And you know why? Because Greenspan insulated himself from people who told him what he didn’t want to hear.

And here he is, still lecturing us on responsible policy."



Blogger Mary K. Goddard said...

Anyone who knew much about real estate saw it coming. In those days, de rigueur was "fog a mirror, get a loan".

12:34 AM  

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