They said that they did not know the housing market would collapse when it did. Huh
? I knew and they did not? Something is fishy.
Well now they have to release the copies of their meetings with a 5 year delay. So now we can read what went on in 2006 at the fed meetings. It turns out that they were not stupid- they were just lying. They knew. So why didn’t they stop it? Your guess is as good as mine.
You just have to read this article.