Does anyone agree with my opinion about Alan Greenspan?
November 20th, 2009 by admin
At the request of G.W.B. A.G. started lowering the interest rate on overnight loans. By doing this A.G. intentionally drove up the cost of buying real-estate in all major metropolitan areas of the US.
Along with lower interest rates, came greed from buyers trying to make a fast profit by bidding on homes and driving the price up knowing that just about any fool could get a 100% loan. Personally I’m happy this is happening, I was warning people and friends 5 years ago about A.G. and how this will make him best known as a criminal that was never arrested because his good buddy Bush was a good friend of his.
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I agree to an extent, but buyers are eqaully guilty. I use to warn folk about a False Economy Appearing Real (FEAR). No one that I spoke to or read about in the real estate business agreed. Bush, being Bush, was deceiving. He wanted a quick fix but not a permanent fix. By selling millions of homes, any economy is tricked into thinking that all is well. People, willingly and ignorantly, took their eyes off of the weak job market. For almost six years, all you heard was now is the time to buy, for this was the buyer’s market.
Greenspan, who should have told the president to take a hike, could not disobey. He, too, needed a Trojan horse. If the economy had faltered, we would have pointed to him, not Bush. Now that he retired and now that Bush is at the end of his terror reign, the bottom is falling out. President Bush is a genius because he manipulates and controls anyone that works under him.
Greenspan worked outside the boundaries of executive authority but was keen on saving his own butt. Greed is the reason people got themselves in trouble and are now defaulting like drops of rains. The only ones who are benefiting are the finance companies and banks.
Alan Greenspan was on my Christmas Card list if that answers your question
He was the best thing the economy ever had….and I’m a Democrat.
I agree how can anyone afford a house nowadays especially in California.He should have the taxes and intrests rates raised on his housing then see where he stands.