Taking Hard New Look at a Greenspan Legacy is not surprising. Tsk tsk tsk. His libertarian ideology was trumped by the real world. Really, this is the danger when you base your judgements on any ideology or -ism, be it liberalism, conservatism, Reaganism, libertarianism, egalitarianism, communism, socialism, obamaism (hehehe), etc.
Except for mine, of course (at least until it is wrong). ^_^
Pressured to Take More Risk, Fannie Reached Tipping Point meh. Lots of positive feedback loops in the system. With everything overleveraged and bad loans floating around and recession memes brainwashed into everyone's heads, you have an unstable system / house of cards. Catch-22 - you want to take decisive action to stabilize the system, but such action could trigger a panic. So really, the only honorable solution is to lie like crazy and misinform the public (everything is hunky-dory! A-OK!! two thumbs up!!!), while quietly bolstering the system and imposing silence through threats of violent death and beatings, then afterwards, you fall on your sword for taking illegal actions and abusing your authority to save the republic and then get hauled off to jail. -_-"
ok, so that scenario is a little extreme.
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