Detailed text transcripts for TV channel - FOXNEWS - 20111118:03:09:00
Suddenly had a huge credit crunch. i think that's a very different part of the problem. i don't think anybody, whether the chairman of the federal reserve or the council of economic advisors or other folks, there were very few people who saw the intensity of the housing problem as it broke loose. there were some people. peter wallace is a good example at the american enterprise institute, who had for a long time been warning that these government-sponsored enterprises were too big, they were too overleft religioned and that they needed to be reformed. and peter wallace is probably as good an a...