Limited?

The inmates continue in charge of the asylum:

For Orderly Dissolution Of The Fed, Before It Does Us Even More Harm - IBD - Investors.com: "Determined to make sure the economy had recovered from that, Greenspan made money available at bargain rates, providing powerful incentives for people to load up on debt, much of which was spent on housing. The Fed's inability to recognize the developing bubble offers a reminder that officials didn't have a crystal ball and were unable to anticipate consequences of their policies.

As late as May 17, 2007, Chairman Bernanke said: 'We believe the effect of the troubles in the subprime sector on the broader housing market will likely be limited, and we do not expect significant spillovers from the subprime market to the rest of the economy or to the financial system.'"

Peter Schiff was right.