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No, actually you are not tilting at windmills. Look back at my posts here a couple of years ago when Alan Greenspan came out (even when he was no longer "the man") and said housing was going to crash... he didn't say it one time, he said it over and over until people started to get scared and stop buying houses. I kept saying when they stopped it didn't make sense since interest rates were at a record low level as was unemployment...but Greenspan said it often enough he turned it into a self-fulfilling prophecy...

Granted prices were going up too fast and all that, but what they Fed (who Greenspan no longer controlled) could have done was thing that were much more subtle and would not have led to this massive housing melt down that, indeed, affects every corner of our society... They could have encouraged our then GOP congress to stiffen lending regulations, for example, so people who didn't have the income couldn't buy a $500K house when all they could afford was a $100K house.... what Greenspan did was every bit as irresponsible as Schumer hinting at Indy Mac and then the comment not long after AIG was bailed out that a larger insurance company was likely to fail and the stock market tanked.

But, then, WE the voters are at fault because we keep returning people like Schumer, Frank, Dodd, to office year after year.

Look back at my posts here a couple of years ago when Alan Greenspan came out (even when he was no longer "the man") and said housing was going to crash... he didn't say it one time, he said it over and over until people started to get scared and stop buying houses. I kept saying when they stopped it didn't make sense since interest rates were at a record low level as was unemployment...but Greenspan said it often enough he turned it into a self-fulfilling prophecy...

Yep.
You have hit on the industry (housing/real estate) that I happen to work in. My colleagues and I have been saying exactly what you've been saying for at least two years. The fix has been in for some time now. I had forgottn that Mr. Andrea Mitchell was also in on the election fixing - - in fact, he apparently kicked it off. Figures...

FRegards,
LH