No unforced errrors
Greenspan’s easy-money policies created the dot com bubble in the 1990s. And after that boom went bust, in order to soften the recession, he eased up on credit even more. And all that went into the housing market, creating yet another bubble.
They say that everybody — Wall Street, Main Street — got drunk with greed. But the real question is, Who provided the alcohol?
Stock options created the dot com boom, not easy money in the 90s.
Sarbox expensing of options with the Black Scholes model was terrible, since it has killed the incentive to innovate..