Alan Greenspan Endorses ARMs 2/24/2004
Yesterday, in front of the Credit Union National Association, Alan Greenspan noted that "Many homeowners might have saved tens of thousands of dollars had they held adjustable-rate mortgages rather than fixed-rate mortgages during the past decade." While that doesn't mean that adjustable-rate mortgages (ARMs) are the right choice for everybody. Things to consider are savings vs. other term choices, the outlook on interest rates in 2007-2014, and the specific terms on each ARM.
You'll notice the headline makes that interpretation. There are many other examples.
Note: Although Greenspan often spoke in cryptic, highly convoluted and just plain weird phrasing, he was well aware of how his comments would be taken by the press and Wall Street.
His speech patterns, such as they were, can be compared to saying, "There appears to be 2+2 dogs running loose..." and later he could deny that he said there are four dogs running loose.