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Greenspan today encouraged homeowners to shift towards short-term
mortgages. I could not believe my ears when I heard it, I first thought
it was a comment taken out of context. But it wasn't taken out of
context. This is the most desperate comment I have ever heard from a
major central bank chairman. And most irresponsible. I have published
some further comments at
http://www.merkinvestments.com/archive-by-date/2004/2004-02-23.en.html