He lowered the fund rates for the banks to lend at ridiculously low rates and kept them there for a long time because everything else had come to a standstill as far as growth of the economy is concerned. Once the spigot was opened greed in all forms took over. Let’s face it, the country was headed for a recession and for 5 years the inflated real estate market was the only thing keeping it afloat. Once sanity was restored and we got back to normal income to home mortgage valuation rates the fit has hit the shan. The real heroic job will go to Bernanke if he can extricate the U.S. from the mess that Al and his buds got us into.
