If anyone needs to bone up before the weekend on the subject. Also, it wouldn't hurt to forward this article to your Senator and Congressman or Congresswomen because it seems as though they have NO CLUE. http://seekingalpha.com/article/97427-the-dummy-s-guide-to-the-u-s-financial-crisis
" Alan Greenspan "Blew It" on Mortgage Crisis Alan Greenspan's denial of the existence of a housing bubble and his refusal to do anything about shoddy subprime lending practices illustrates the folly of putting a dogmatic libertarian worshipper of Ayn Rand in charge of a key government regulatory agency. Edmund L. Andrews reports in today's 12/18/07 NYTimes that Greenspan ignored repeated warnings on the dangers of subprime mortgages from Federal Reserve governor Edward M. Gramlich nearly seven years ago, in 2001 from senior Treasury Department official, Sheila C. Bair, and from leaders of a housing advocacy group in California, John C. Gamboa and Robert L. Gnaizda who warned that deception was increasing and unscrupulous practices were spreading. "He never gave us a good reason, but he didn't want to do it (press lenders to adopt a voluntary code of conduct). He just wasn't interested." " http://hubpages.com/hub/Subprime-Mortgage-Crisis-Enabled-by-Alan-Greenspan