[GodGunsGuts]

Greenspan did indeed encourage ARMs. He used FED-speak, but he did nevertheless encourage them. Not long after, ARM loans became ubiquitous. In short, Greenspan encouraged ARMs in an effort to persuade Americans to use their home equity to stimulate a (temporary) economic recovery. I don't have time to go dig up his original speech, but the following article points out the relevant quotes:

http://moneycentral.msn.com/content/P73977.asp

[Toddsterpatriot]

He used FED-speak, but he did nevertheless encourage them.

Maybe you should post the speech? Then we can discuss whether he encouraged the use of ARMs.

I don't have time to go dig up his original speech, but the following article points out the relevant quotes:

LOL! There were no relevant quotes in that article.