loosecannon
Senior Member
- May 7, 2007
- 4,888
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We would never had had the Housing Bubble without cheap credit. All bubbles are a function of cheap credit to some extent.
Ok that is TRUE and a good explanation.
But reread your previous posts, it is still a complete non sequitur.
The Bush administration bears some responsibility for that - just as the Obama administration bears some responsibility for it today - but the primary culprit was the Fed.
How do you know that the president dictates to the fed?
I tend to believe that until Bernanke took the chair the Fed was like J Edgar Hoover.