Outside of Detroit -- and outside of the gulf region -- there are signs that the economy is still doing very well.

It has surprised all of us that the economy has performed so strongly, but we think that the accumulated influence of higher rates both in the market and by the Fed will begin to take a little bit of starch out of the economy.

If the Fed were to pause, what does it actually do for anybody ... in the afflicted Gulf region? At this point they're more concerned with basic food and shelter and not really comparison-shopping for mortgages.

There's going to be massive reconstruction in the Gulf region in a couple of months,

The recovery of the Gulf Coast region will take years to complete.

Eighteen years of excellence has earned Greenspan the benefit of the doubt when blame is being allocated.