Clinton's economic advisers were very conservative too, and he still managed to hand us this subprime mess....
Well, these clowns shouldn't base their decisions on Fed Funds Futures. Above all, they should turn off their CNBC. In all seriousness, however, their timing looks very suspect. They always react just when the stock market goes bust. For example, Greenspan, in his infinite wisdom, kept raising the interest rates until January 2001 when he came out with his "surprise, surprise" rate cut. From then on, he went on a rate-cut binge. In my not-so-humble opinion, the way these two pedentic bozos are handling their respective affairs are more in the manner of a manic-depressive looney than anything else.
Clinton??? You have no idea what you are talking about. In Spring 2002 (one after Clinton left office), my wife and I had to put 50% down on a NYC condo as a primary residence for WAMU, even though our liquid assets were twice the value of the property and our combined income was more than 25% of the monthly payment. 2 years later, a friend of mine closes on 5 (investment properties), with virtually no money down and barely enough income to support one of the houses. These mortgages of course, all came from WAMU!!! How can you blame Bill Clinton for such reckless deterioration of underwriting standards 4 years after he left office??
Of course they are. Someone has to make the money he needs to tax at 50% clip to "spread the wealth around." I'm sure there will be some sort of exemption for those who work in the "arts", like all of hollywood and Oprah.