of those who still
             had jobs to take advantage of the same low rates and become homeowners. In
             short, the fact that new housing experienced a boom does not argue that
             9/11 had no negative effects; rather, it argues that the low interest rates
             which were engineered at a continuing low level by the Federal Reserve
             because of the weak economy, in their effort to spur investment by
             corporations and by stockholders, not just homeowners.
             Although the report doesn't link it directly to the terror attacks, it
             notes that in 2001 "faced with signs of a slowing of economic activity" the
             Federal Reserve reduced rates 11 times during the year, ending up at 1.25
             percent, a rate it held fairly constant throughout 2002 (President's Report
             2003 p. 51). It noted that there are four main channels through which
             ...