主题：【原创】全球熊市的开始：DOW大跌超过400点 -- 倥偬飞人

看看這位大師，當年說了些甚麼！！

"Innovation has brought about a multitude of new products, such as subprime loans and niche credit programs for immigrants... With these advances in technology, lenders have taken advantage of credit scoring models and other techniques for efficiently extending credit to a broader spectrum of consumers... Where once more marginal applicants would simply have been denied credit, lenders are now able to quite efficiently judge the risk posed by individual applicants and to price that risk appropriately. These improvements have led to rapid growth in subprime mortgage lending... fostering constructive innovation that is both responsive to market demand and beneficial to consumers."

-- Alan Greenspan, April 2005

還有這2004年的經典講話，當年看到他這樣說，簡直令我震驚。當息率開始向上升時，如此說法，只會令不少「盲毛」做浮息按揭。今天的後果，就是當年這位大師種下的。

. Indeed, recent research within the Federal Reserve suggests that many homeowners might have saved tens of thousands of dollars had they held adjustable-rate mortgages rather than fixed-rate mortgages during the past decade, though this would not have been the case, of course, had interest rates trended sharply upward.