Zeev's Turnips Patch-No Politics (ZEEV)

[Blue Horse Shoe]

"Even if he'd been able to raise rates and choke off the bubble, he'd know that he would forever be blamed as the person who killed the greatest bull market of all time. The ensuing downside would have all been "his fault"."

So which is worse, blame him now or blame him later? I admit he had a tough job, but the current downside is "his fault" anyway. Sure, hindsight is 20/20, but the pain we are experiencing now and about to experience is much worse for the overall economy than the slow steady growth which would have likely been attained by putting on the brakes. He saw it coming and should have intervened. But he and the crooks probably shorted at the top so what do they care?

Going forward the only option they have is to reinstate the 30 year and finance debt longer term.

Greenspan reminds me of a poem my dad taught me when I learned to drive:

Hear lies the body of William J
Died while maintaining his right of way
He was right
Dead right as he sped along
But he's just as dead now
As if he'd been dead wrong