patrick.net

Just like in 05 they weren't sure there was imminent threat, but slight overheating...

http://online.wsj.com/article/SB10001424127887324906004578290113820357742.html

Federal Reserve Board Governor Jeremy Stein said there isn't an imminent threat to the wider financial system, but highlighted several markets—including junk bonds, mortgage real-estate investment trusts and commercial banks' securities holdings—as areas where potentially troubling developments are emerging, possibly as a result of the Fed's easy-money policies. Mr. Stein spoke Thursday at a symposium at the Federal Reserve Bank of St. Louis.

#housing