so greenspan is to blamed for all of this?
what about the buyer who bought without thinking if they can pay for the house?
what about the loan broker who steered the buyers toward exorbitant loans?
what about the banks who loaned to people with bankruptcy just 6 months prior.
what about the investors who bought the repackaged loans.
etc…
yes, the rate was ridiculously low but if the rate was higher, the economy would probably have suffered a whole lot during teh post-dotcom years.
greenspan was trying to keep the economy from imploding from the Dotcom fiasco. He will get the blame if he didn’t lower the interest rate enough. He will get the blame if he does.
