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During the subprime mortgage crisis and a massive overstock of unused homes, former Fed Chairman Alan Greenspan had a good idea: He said the low cost solution to clear the excess inventory would be to bulldoze over all the unused properties.
In a 2010 Bloomberg Television interview, Alan Greenspan said, “The general notion the Fed was propagator of the bubble by monetary policy does not hold up to the evidence. ... Everybody missed it — academia, the Federal Reserve, all regulators.” Everybody missed it?
