Greenspan, “I Endorsed Subprime Loans”
September 9th, 2008 . by iVoteIt’s true, Alan Greenspan referred to subprime lending techniques as “efficiently extending credit to a broader spectrum of consumers” and “lenders are now able to quite efficiently judge the risk…” and “subprime mortgage lending is both responsive to market demand and beneficial to consumers.”
Do you think Alan Greenspan is in any way responsible for the failure of Fannie Mae and Freddie Mac?
yeah… it is called “Raise the Rates” when everyone is buying like mad!
[...] by the way…Alan Greenspan was wrong too when he proclaimed that subprime lending was “innovative” and “beneficial to [...]