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patientrenter.
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November 23, 2007 at 12:03 PM #103200November 23, 2007 at 1:47 PM #103089
kev374
ParticipantGreenspan is stating the obvious. He should’ve realized the effects of his actions years ago!
November 23, 2007 at 1:47 PM #103172kev374
ParticipantGreenspan is stating the obvious. He should’ve realized the effects of his actions years ago!
November 23, 2007 at 1:47 PM #103184kev374
ParticipantGreenspan is stating the obvious. He should’ve realized the effects of his actions years ago!
November 23, 2007 at 1:47 PM #103206kev374
ParticipantGreenspan is stating the obvious. He should’ve realized the effects of his actions years ago!
November 23, 2007 at 1:47 PM #103228kev374
ParticipantGreenspan is stating the obvious. He should’ve realized the effects of his actions years ago!
November 23, 2007 at 7:04 PM #103281patientrenter
ParticipantGreenspan is indeed stating what’s obvious to Piggingtonians. But it’s not yet universally accepted wisdom. What’s significant is that he remains an important leader of established political/economic views, and he is now reversing his previously position downplaying the likelihood of bigger future price drops.
As an example, consider that Freddie Mac’s 25% drop in value this week was triggered by recalculating the value of their 3rd party MBSs, assuming a mere 5% decline in future home prices. Greenspan’s comment makes that 5% seem untenably optimistic, even when looking through the rose-tinted glasses used by the politicians and their regulators when they try to justify pretending that the problems are anything except excessive home prices.
Patient renter in OC
November 23, 2007 at 7:04 PM #103257patientrenter
ParticipantGreenspan is indeed stating what’s obvious to Piggingtonians. But it’s not yet universally accepted wisdom. What’s significant is that he remains an important leader of established political/economic views, and he is now reversing his previously position downplaying the likelihood of bigger future price drops.
As an example, consider that Freddie Mac’s 25% drop in value this week was triggered by recalculating the value of their 3rd party MBSs, assuming a mere 5% decline in future home prices. Greenspan’s comment makes that 5% seem untenably optimistic, even when looking through the rose-tinted glasses used by the politicians and their regulators when they try to justify pretending that the problems are anything except excessive home prices.
Patient renter in OC
November 23, 2007 at 7:04 PM #103235patientrenter
ParticipantGreenspan is indeed stating what’s obvious to Piggingtonians. But it’s not yet universally accepted wisdom. What’s significant is that he remains an important leader of established political/economic views, and he is now reversing his previously position downplaying the likelihood of bigger future price drops.
As an example, consider that Freddie Mac’s 25% drop in value this week was triggered by recalculating the value of their 3rd party MBSs, assuming a mere 5% decline in future home prices. Greenspan’s comment makes that 5% seem untenably optimistic, even when looking through the rose-tinted glasses used by the politicians and their regulators when they try to justify pretending that the problems are anything except excessive home prices.
Patient renter in OC
November 23, 2007 at 7:04 PM #103221patientrenter
ParticipantGreenspan is indeed stating what’s obvious to Piggingtonians. But it’s not yet universally accepted wisdom. What’s significant is that he remains an important leader of established political/economic views, and he is now reversing his previously position downplaying the likelihood of bigger future price drops.
As an example, consider that Freddie Mac’s 25% drop in value this week was triggered by recalculating the value of their 3rd party MBSs, assuming a mere 5% decline in future home prices. Greenspan’s comment makes that 5% seem untenably optimistic, even when looking through the rose-tinted glasses used by the politicians and their regulators when they try to justify pretending that the problems are anything except excessive home prices.
Patient renter in OC
November 23, 2007 at 7:04 PM #103139patientrenter
ParticipantGreenspan is indeed stating what’s obvious to Piggingtonians. But it’s not yet universally accepted wisdom. What’s significant is that he remains an important leader of established political/economic views, and he is now reversing his previously position downplaying the likelihood of bigger future price drops.
As an example, consider that Freddie Mac’s 25% drop in value this week was triggered by recalculating the value of their 3rd party MBSs, assuming a mere 5% decline in future home prices. Greenspan’s comment makes that 5% seem untenably optimistic, even when looking through the rose-tinted glasses used by the politicians and their regulators when they try to justify pretending that the problems are anything except excessive home prices.
Patient renter in OC
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