Thursday, March 12, 2009

Alan Greenspan defending, well, Alan Greenspan and more

Alan Greenspan defends his reputation in the Wall Street Journal. The defense is largely that sure long term-rates were too low, but that was because long term rates (which people used to make real estate decision on) quit moving with short-term rates (which the Fed had some control over).In his words:"There are at least two broad and competing explanations of the origins of this crisis. The

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