Thanks a Lot, Mr. Greenspan

The Wall Street Journal Opinion section devoted a full page to articles arguing for and against the idea that Alan Greenspan’s Fed played a major role in causing the housing bubble by keeping interest rates too low. Only one article appears to back Greenspan’s claim that interest rates were low thanks to increased consumer saving; the other articles all fault the Fed, and one even seems to insinuate that the Fed should be replaced by a return to the gold standard.

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