Those with blinders on...

Another piece NY Times, an opinion piece discussing the housing bubble and criticizing those who claims that "nobody could've predicted the housing collapse." Heck, I, with what, one semester of college economics, was warning about this years ago in the Housing For All Yahoo Group. I knew what we as Americans were doing was not sustainable, so it's very hard for me to believe that former Fed Chairman AlanGreenspan didn't either. Groups like the National Community Reinvestment Coalition was warning about the Adjustable Rate Mortgages (ARMS) for years ago, and Greenspan actually claimed that ARMs were a good idea. It's not that nobody was warning about the collapse, it's that they chose to not listen.

Yet another example of grassroots community activitists being right in face of denial by policy makers.