Ed Glaeser's Pathetic Defense Of Greenspan
"Mr. Greenspan’s loose monetary policy may have been a mistake, but low interest rates cannot readily explain what happened to housing prices. Real rates actually rose slightly between 2002 and 2006. "
Huh? In 2002, the housing bubble was inflating, in 2006 the housing bubble was deflating. So, by his own criteria of relevant evidence, he is supporting the theory he is trying to deny. Apparently, Harvard doesn't have high standards when it comes to basic reasoning abilities or logical coherence. Needless to say, Glaeser was as clueless as most professors were in predicting the current crisis.