alt Hacker NewsHe also oversaw the economy for twenty years before one of the worst recessions in the world. He helped set the stage for multiple disasters with his policies, so I'd take his opinions with a grain of salt.
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Really?
I don't think anyone really holds him responsible for the dotnet crash of 2000 as that was a market issue and irrational exuberance issue and not a monetary one.
And 2008 was similar. The Fed doesn't control or have any responsibility for lower lender standards or ARM mortgages.
Congress was responsible for the GSE's that bought any mortgages and wrote insurance on those mortgages, so you can't blame the FED for that.
Wallstreet are their regulators were responsible for the securitization of mortgages that went bad in 2008, not the FED.
At worst you can say they had the wrong monetary policy but that's an opinion and not something that can be said as a fact.
Can you flesh out how you feel Greenspan is responsible for 2008?
It was generally 20 years of growth and the 2008 banking crisis actually happened after he left.
By the same standard shouldn’t he also get credit for those 20 years of prosperity?