pro-voucher nutso on CB

[BlueHair]

Originally Posted by jay santos

Blaming Greenspan for just about anything is bad form. The guy might be responsible for more economic prosperity than any American over the last 100 years. Every choice you make in his position has different consequences, and he pretty much nailed every important decision. It's not his fault lenders went crazy giving out bad loans.

I'm not saying its entirely Greenspan's fault. I'm saying the creation of excess money created the opportunity for fraud. The lenders were greedy, but who doesn't make an easy buck when the opportunity arises? They were making loans and investors were buying them. It hard to blame them for making loans that investors were willing to buy. It reminds me of the dot com bubble. Everyone and their dog bought stock and everyone made money(for a while). Now I think the Fed should allow the banks and equity firms to pay for their mistakes. It's simply not right to allow them to make tons of money taking bad risk and then step in and bail them out with rate cuts. Let the market correct itself. The stock and real estate markets are vastly overpriced.