Wednesday, May 07, 2008
Andrew Leonard, Salon.com,
Andrew Leonard, Salon.com,
David Lereah takes a turn as Chicken Little
Near the height of the housing boom, in October 2005, Lereah gave a presentation in New Orleans in which he called two of the most vocal critics of the housing boom, Robert Shiller and Dean Baker, "Chicken Littles."
Lereah, the one-time chief economist for the National Association of Realtors, now says that he, like everyone else, underestimated the impact of the subprime lending explosion on the housing boom: "That got so out of hand, and none of us realized the magnitude of it until it was too late."
Lying piece of shit.
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Posted by Editor on 05/07/08 at 07:03 AM •
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