Look up Alan Greenspan on Wikipedia:
Alan Greenspan, in office, August 11, 1987-January 31, 2006.
During the same time, Bush ran up the deficit, but off-balance sheet, by putting all "war" spending off the budget, so it did not show up in the deficit.
China, by saving a lot, didn't CAUSE the crisis. That's a ridiculous way of looking at it. Yes, I agree that they massive offshoring policies caused weird imbalances. But to articulate that it is a high savings rate that "caused" our problem, and then Bernanke, by writing papers at Princeton, CAUSED Greenspan to have loose money policies and encourage Bush to go crazy with the 10 trillion surplus he inherited... seems like a very convenient version of an already twisted reality. It's nice to blame other people for our problems. Since Romney is talking about China, a new scape goat will help undo the financial reforms. That seems more likely the agenda than anything else in this article.
Oh, wait, that wikipedia detail, Greenspan's term, is just left wing nonsensical propaganda. Republicans know what "really" happened. They don't need to hear it from anyone who disagrees with them. Anyone who disagrees with them is either a communist or an idiot but is absolutely NOT to be listened to... or they're an atheist or a socialist... but don't listen to anyone who tells you any facts you don't want to hear Republicans. That's how you have to roll when you don't have facts in your corner... just put your fingers in your ears and tell people that science and math are nonsense...
Maril, as usual you're confused, or just out right lying, probably both, but Greenspan was the Fed chairman from 1987 - 2006, and he had a lot to do the WS housing bubble debacle. But thats alright, we don't expect the truth from you anyway., because you just parrot the right-wing lies, and thats why they love you.
Canary: 2hrs42min. ago this article was on the home page of yahoo finance. Read anf inform yourself before chirping. Just because you lie, does not mean any one else does. Got a problem w/info, take it up with CNBC and the yahoo news.