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dave_s

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Re: Joe Stocks post# 238441

Monday, 01/25/2010 12:56:56 PM

Monday, January 25, 2010 12:56:56 PM

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Joe,

I could not agree more. I noted with astonishment as Greenspan and company kept rates near zero for a protracted period. As a result, individuals and companies took greater risks since the cost of capital was negligble. Personal and business balance sheets became leveraged to the max to "use" the "free money" being spawned by the fed. When the rates were ratcheted up over 5 percent by Bernanke, the house of cards came tumbling down and the financial system imploded.

Dave S
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