Greenspan image tarnished by newly released documents - The Washington Post

Thanks kbit. I was going to post this today, but you beat me to it.
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Total and complete incompetence by those that were supposed to
be watching out for the financial welfare of the U.S.

8 minute video below done by PBS NewHour, you can watch (or you can read it).

Excerpt:

But, as Bernanke put it that march (2006):

"Strong fundamentals support a relatively soft landing in housing. I think we are unlikely to see growth being derailed by the housing market."

Link here:

Records: Federal Reserve Officials Foresaw, Joked About Housing Bubble in 2006 | PBS NewsHour | Jan. 13, 2012 | PBS