Housing Bubble? What Bubble?

Alan Greenspan denies all.  He claims that "the U.S. bubble was close to median world experience and the evidence that monetary policy added to the bubble is statistically very fragile."  He makes this disclaimer with a straight face, although under his leadership, the Federal Reserve reduced interest rates from 6.5% in late 2000 to 1% in June 2003 -- and kept rates at 1% through May 2004.  At 1%, it's almost like giving money away instead of lending it.

Link:  http://www.cnbc.com/id/23948760

(ag) March 7, 2008, in Economy