Remember: Greenspan's Low Prime Rate Fueled Sub Prime Which Fueled bush Economy

[stopbush]

Had Greenspan been as stingy with interest rates for bush as he had been for Clinton, the entire sub-prime market wouldn't have emerged, the entire building boom would have never happened.

Greenspan's lowering of interest rates provided a false sense that the economy was working. Low interest rates led to a boom in mortgages (especially among first-time and previously unqualified buyers) which led to a housing shortage which led to higher prices on existing inventories which led to the building boom.

Without Greenspan, bush would have been a one-term president (at best) because his economic policies would have had to stand on their own and would have been a disaster in a few short years. The spectre of 9/11 would have been one of incompetence, NOT rallying around the president.

[LaPera]

1. They would of stolen the election no matter what....Most Dems don't believe it can be done.

[Phoebe Loosinhouse]

2. I can't disagree. I think he personally caused the real estate bubble by keeping rates artifically

low. If he had slowly and deliberatively raised them over a period of time, the lid would have been tamped down on prices instead of the through the roof escalation that we saw. Also, it would have encouraged savings - now there's a novel idea.

[wishlist]

3. Low interest rates was simply to prop up Bush and the failing stock market

The low rates kept stock market from totally tanking, but instead caused incredible collapse of rest of financial system.

[Hydra]

4. The bubble had to happen

Otherwise we would have had NO economy to speak of, and no excuse to offshore the jobs.

The crisis even had a timer on it, and some people made billions in insider trading by knowing when to jump ship.

Perfectly planned, perfectly executed, and the people responsible are perfectly gone.