Quote of the Day: Hiding the Housing Bubble

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From Alan Greenspan, arguing in a 2004 Fed meeting that arguments about a possible housing bubble should be kept private:

We run the risk, by laying out the pros and cons of a particular argument, of inducing people to join in on the debate, and in this regard it is possible to lose control of a process that only we fully understand.

Italics mine. So how’d that work out for you, Alan?

UPDATE: I’ve been had. Greenspan wasn’t talking about the housing bubble, he was talking about a discussion of the Fed’s communication policy. Apologies.

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This is a big one for us. So, as we ask you to consider supporting our team's journalism, we thought we'd slow down and check in about where Mother Jones is and where we're going after the chaotic last several years. This comparatively slow moment is also an urgent one for Mother Jones: You can read more in "Slow News Is Good News," and if you're able to, please support our team's hard-hitting journalism and help us reach our big $350,000 goal with a donation today.

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