Saturday, January 15, 2011

BUSTED: Unsealed Docs Show The Fed Was Fully Warned Of A Housing Crisis
New minutes released today show Fed members were fully aware of the growing housing bubble in the U.S. in June of 2005.

The materials include several presentations made on the subject of the emerging housing bubble in the U.S. economy. They have titles like "Is Housing Overvalued?" by Joshua Gallin and "Monetary Policy Implications of a House Price Bubble" by John C. Williams of the San Francisco Fed.

In October of 2005, future Federal Reserve Chairman Ben Bernanke told Congress he didn't think we were in a housing bubble.

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