PBS NewsHour 20070918 Greenspan 1 1of2

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Alan Greenspan is interviewed by Jim Lehrer on the his role in the housing bubble, the subprime mortgage meltdown, George W. Bush's tax cuts, and the role of the Fed and the Fed Chairman. Greenspan says unequivocally "We had a bubble in housing" (2:23). He explains his Fed policy of sharply lower interest rates by worldwide economic and social forces, but does not mention their reduction immediately following the burst of the dot-com bubble. Inconsistently, Greenspan says here that he and the Fed tried in 2004 to raise interest rates to put a clamp on the housing boom (4:21), yet in other recent interviews he says "I really didn't get it until very late in 2005 and 2006." [First of a two part interview, 1of2]

Category: News
Uploaded: September 21st, 2007 @ 4:28 am
Author: FrothySnowman

Length: 09:19
Rating: Whole StarWhole StarWhole StarHalf Star
Views: 5,740

Tags: boom bubble bust economy fed greenspan home housing interest mortgage prices rates subprime

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