That’s true, although her district encompassed Arizona, Southern Cal, and Las Vegas, meaning the worst of the crisis, ex-Florida, was in her district, and she was pretty long in rejecting the idea that there was a bubble, even when it was bursting.
Still, at least she’s better than Summers
In what possible way?
In what possible way?
Sure the real estate issue was big but the real issue was several levels removed from a white hot real estate market. It was the derivative leverage of the underlying real estate market that was the house of cards. Very few understood that.
Yelled is closest to Bernanke in monetary philosophy and I think Bernanke has done a hell of a job.
And she is much better than Summers. Then again that’s a low bar :-)