Economic growth 'getting close to stall speed' due to housing, credit crisis

Economic growth 'getting close to stall speed' due to housing, credit crisis

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To have prevented such euphoria in housing that fed a bubble in prices, Greenspan said the Fed would have had to jack up interest rates so high that it would have damaged the economy. “That would have broken the back of the economy, and brought the housing boom down,” Greenspan said.

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Was there some sort of bigger intention of this happening by the FED Gov ? There seems to be a connection, whether intentional or happen stance, it seems very odd that the Fed's wanted to jack the prices when Greenspan was against it for the benefit of the economy and the infrastructure of the economy.
Could there possibly be the expectation of the the whole economic structure being manipulated to create the end results?
Does greenspan know more than he is letting onto about the GNP and Fed's to cause such a resession in our country?
I don't really follow wall street or the like, but this has been on the news nation wide for sometime and it has me wondering.

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