Terry wrote: And, yes, Greenspan admitted he FU. He opened the gates expecting the banks to protect themselves. He misjudged human greed.
Hi All, Greenspan knew the extent of the thievery that was going on. He thought the Kondratieff upswing would hide it, but too much was being stolen. We are now in the position of a company that has suffered a major embezzlement; but, in this case, thanks to Phil Gramm and the other deregulators, what the theives did was legal. However, we are still in a K. upswing. All we have to do is pour in capital. Come on President Obama, spend a trillion making jobs building windmills, etc. And, if oil hit $40/barrel by Christmas, don't blink. Jack Smith
