Quote:
Originally Posted by spence
The low rates were a response to economic conditions largely influenced by the market. Certainly you could argue this was a wrong move, but it's not like the government was setting policy in a vacuum.
It's also not like investors are altruistic, they're trying to make money. Whatever is legal is fair game. Hence my comment about the market exploiting the room to move.
I'm not blaming the markets or investors, the entire thing was a gigantic fuster cluck.
-spence
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The low rates were an idiotic move, Spence.
Alan Greenspan kept interest rates to near zero percent from 2001 through 2004.
However, the economy already started recovering in November 2001! He should have raised rates starting then.
Greenspan's actions were the primary reason why we had bubbles in housing and other areas.