2008-01-22goldseek.com

The second "mistake" was supposed to be that, "Mortgage brokers put too many people in unsuitable mortgages. They knew, for instance, that adjustable-rate mortgages probably wouldn't be right for many borrowers if interest rates rose as the market expected." Hahaha! Again this Poole halfwit does not mention that the banks, with his approval, provided so much money and credit that they drove interest rates down to abnormally low levels! Of course they had to rise!

Anti-spin of some of the Fed's latest responsibility-shirking, courtesy of "The Angriest Man In Economics".



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