Fox blew it on the biggest story of the decade and probably the rest of this century. Hopefully CNN scoops everyone and gives the downfall of the largest economy in world history the attention it deserves.
So when the housing bubble was brought up recently by Rand Paul I recalled the Federal Reserve's dirty laundry. And look at what the next Federal Reserve Chairperson had to say when it counted:
And even Ms. Yellen did not believe that the problems in the housing market would have broader consequences. “Of course, housing is a relatively small sector of the economy, and its decline should be self-correcting,” she said.
Ms. Yellen said: “It’s fitting for Chairman Greenspan to leave office with the economy in such solid shape. The situation you’re handing off to your successor is a lot like a tennis racquet with a gigantic sweet spot.”
There is probably a ton of this stuff out there. Hopefully Rand and his staff have got it.
