Re: Market shudders with another Greenspan 'irrational exuberance' speech
So basically, he's saying that a housing bubble is forming and raising interest rates will make it go away.
What about all the people who are already in over their heads? What about the mortgage companies which are about to suffer some losses as people default on their loans and can't sell their homes. And the mortgage companies won't be able to sell them at anything near the amount they loaned.
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