“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.”
Alan Greenspan, April 2005, quote in “Greenspan’s sins return to haunt us”

I think Greenspan is the most overrated figure in American history.

Notes

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