Dave: So what’s the alternative? Do you think he’s going to tell the truth? Do you think the NAR is going to? The continuing antics of Lawrence Yun show that the NAR is committed to spreading their propaganda as far and wide as they can.
They disavowed Lereah, but are continuing to pay Yun to perform the same service, albeit on something of a reduced scale.
How big are the dunce caps for Greenspan, Bernanke, Paulson, Rubin et al going to be? Housing was simply one aspect of what will go down in history as the greatest fraud ever perpetuated on a society and it was done with the complete support of the US Government. While the focus of this blog is on housing and the housing bubble, the fact remains that none of what transpired would have been even remotely possible without the completely reckless monetary policy (and I hesitate to even use the word “policy” because it connotes some semblance of thought) of Alan Greenspan and the Fed.
What makes this even more outrageous are the two prime directives of the Fed: Protect the US dollar and the integrity of the system. Are you f**king kidding me? You couldn’t have done a worse job if you tried. Hell, maybe they did. Maybe the conspiracy theorists are right. Maybe it isn’t lunacy or idiocy at work here, maybe it’s sheer f**king genius.
