Yeah, "The Maestro" was powerless---powerless!--- to influence Congress and the MSM nods along. And of course leave aside the fact that this conveniently ignores what was the CORRECT policy in the circumstances, and assumes that (obviously!) the Repub Congress couldn't be persuaded to follow sensible financial policy---is that REALLY what The (ex)Maestro is saying now?
Furthermore, it was Greenturd's specific policy recommendations that more "innovative" mortgage products be created (in the face of falling interest and mortgage rates) that causes me to suspect that Uncle Alan actually intended that the stock bubble be followed by a houing bubble.
He's never asked about that little aspect of his serial asset bubbles. How could he NOT know that historically low interest rates for over a year would increase housing prices? An college junior knows it. And how could he not suspect that that was what was happening as housing exploded during a period of historically low interest rates?
He's prob'ly not the principle creator of the bubble--Wall Street and its criminal "bankers" are. But he lit the fuse and acted like he didn't know there was a bomb. And that's still his story.
Posted by euzoius at February 14, 2009 12:37 PM