You need to get the full picture and stop posting like you know what you are talking about because you are short on the full analysis.
Greenspan was instrumental in all the efforts along with Gramm and others to dissolve regulatory firewalls to encourage financial ‘competition’. The Forbes report above makes that clear, very clear. The PBS documentary with Brooksley Born referenced above also makes it painfully clear that Greenspan, Summers and others set the ball in motion in the latter Clinton years (1999 passage of repeal of Glass-Steagall).
The CRA and the like were merely tag-along sideshows, they were not prime drivers.
The prime driving force was greed in selling those mortgage bonds and the sale of those bonds were made possible by the foundation laid and structures built by Greenspan and Gramm.
“You need to get the full picture and stop posting like you know what you are talking about because you are short on the full analysis.”
Right back at you.
You strike me as one of those guys who are totally, completely focused on the Federal Reserve as the boogie man responsible for all evil. Not that I am a fan of the Fed, but I don’t blame it for everything.
You remind me of the old phrase “if all you have is a hammer everything looks like a nail”.
I’ve given you the same answer to your replies a few times now. No need to repeat myself.