User: Brian Ripley: CAD Real Estate: Vancouver Real Estate to Sept 2013

Vancouver Real Estate to Sept 2013

“We really can't forecast all that well. We pretend that we can but we can't. And markets do really weird things sometimes because they react to the way people behave, and sometimes people are a little screwy.”  

Alan Greenspan, speaking to Jon Stewart (at 6.20min) on The Daily Show. More quotes by from this interview (paraphrased): 
The banks did not fully understand the risks out there. 
We analysts thought the actors would be rational. 
We couldnt believe their (bank's) leverage. 
You cannot tell which are the toxic assets. 
Let banks suffer the consequences, don't let them default. 
More at www.chpc.biz

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