Myron Shlapak

Blame Realtors, Brokers and Bankers - Not Greenspan

We can not blame all on Mr. A.G. but we should let the chips fall where they will.

The Fed has other duties and tools available to them for controlling/directing the economy and investing. Many conservative economists over the years of his career called upon him and the Monetary Committee to utilize those other tools, raise margin percentages for one, to halt the exuberance.

When he said the low, long term rates were a Conundrum it should have been a Red Flag that something was going on and the Fed should have been on their toes. When the Banks began giving money away they had a responsibility to slow or even end the party.

No one wants to be a Party Pooper and this is one reason why the Maestro was so revered. He always seemed to be able to orchestrate another Encore.