From the Los Angeles Times:
Federal Reserve missed signs as crisis loomed
Despite signs of trouble for the nation's overheated housing market in 2006, there was plenty of banter and laughter around the big mahogany and granite table inside the Federal Reserve where top policymakers gathered one day in March.
The full story can be viewed at: http://www.latimes.com/la-fi-fed-transcripts-20120113,0,1474890.story?track=latiphoneapp
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