I'd really like your opinion on this question. Thank you.Is the former Chairman of the Federal Reserve, Alan Greenspan, responsible for the mortgage crisis?
My opinion is no, Alan is not at all responsible for the current situation.
Dumb loan officers, pushing borrowers past their responsible loan amount, offering low teaser-rate adjustable mortgages... and even dumber borrowers who took up the absurd terms and now can't pay because their rate went up.... Those are the people responsible for the current situation!!
All the happy homeowners who borrowed fixed rate loans, at a time when fixed rate loans were about as low as they could ever get... they're not responsible... but they might buy the houses that the dumb borrowers are losing, and become rich real estate investors!!
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