It's 2006, and "Bernanke [...] together with then New York Fed chief Timothy Geither, [...] believes the slowdown in housing is healthy and likely to end well."

Good thing Obama got rid of those guys toot sweet, or this would be kind of embarrassing.

Comments

[Patrick Eakes]

I know a certain relative who told Bernanke directly in 2006 (twice, I think) that the loss of homes would dwarf what Hurricane Katrina. He believed Bernanke was one of a small number of people with the power to avert or lessen the damage.

[Billy Jones]

Patrick,
I believe your relative.