Paul Kasriel of The Northern Trust Co. says the surprise isn’t that Greenspan was tapped for an extended stay at helm of Fed but rather that he accepted. Saying the impending interest rate boost runs a very real possibility of bursting the housing bubble in the next two years, Kasriel asks:
“Why wouldn’t Greenspan leave this potential debacle to his successor to deal with? Why not go out on top of the world now? Does Greenspan’s pride goeth before the fall?”
via Dow Jones Newswires
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