[Toddsterpatriot]

A quick perusal of the first hundred or so will show that his comments were interpreted as a ringing endorsement of ARMS (as well as other types of terms like interest only).

I can agree that the media and you had that interpretation.

In Feb 2004 Greeny said the following: "American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage"

I think that's a truism, not an endorsement of ARMs.

[djf]

consumers... benefit... alternative... fixed-rate mortgage.
If something is not fixed it is adjustable.
My guess is fourth or fifth grade English.


But since I and the media all had the wrong interpretation of what he really meant, then please tell us, Oh Enlightened One, what he was truly saying?

Actually, I'm a bit burned out, so don't bother.

[GodGunsGuts]

So you don't think that Greenspan gave the green light when he specifically drew attention to ARMs, and then followed up by saying borrowers might benefit from them?