Boomtown Institute – Credit Crisis 2008

Even though virtually everyone in Washington, D. C. and on Wall Street talks about the massive $800 billion bailout bill as help for Main Street, I’m still not buying it. I can’t find any evidence that Main Street was a major player in the paralysis of credit markets. Here is the chronology of events that I’ve found that led to the bailout of Wall Street.

December 5, 1996-Alan Greenspan utters words "Irrational Exuberance" for the first time. Congress comes down hard on him, not wanting an end to the .com elevation in stock prices and jobs created from those high flying stocks. Greenspan doesn’t increase margin requirements for stock trading….bubble grows in .com stocks….bubble bursts in early 2000.

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