Reply #3: Greenspan fucked up a lot of things [View All]

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He spurred on the bubble, he also kept a lid on the growth of wages for working people. Instead of encouraging wage growth, he made easy credit available by keeping interest rates artificially low. So, instead of working people earning more money and keeping up with the costs of living, they simply borrowed instead, taking on huge debts with high interest loans.

I've never understood how some liberals idolize Greenspan. He was a terrible Fed chairman and did more damage to working families than even Dubya could do, IMHO.