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| alan greenspan defends himself |
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some say that due to greenspan's keeping
interest rates too low for too long, that he
paved the way for or even caused the current
economic crisis facing the real estate market
(which in turn directly affects the overall
economy). he also stands accused of not
having done more to prevent sub-prime
lending, which in turn leads (and has led) to
a record number of foreclosures as well as
falling housing prices, and the so-called
"bursting of the housing bubble". greenspan
defends himself against these accusations and
more in the opening segment of the 60 minute
interview with lesley stahl (aired 9/16/2007)
btw- i know little to nothing about economics
and lending practices. if i am stating
something incorrectly above, please feel free
to kindly point it out to me, and i will make
a correction (when i can finally make the
time). thank you.
Tags : greenspan housing bubble burst foreclosure loan default sub-prime lending federal reserve low interest rate |
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Affichage : 59817
Durée : 296 s |
| Greenspan Says I Still Dont Fully Understand What Happene |
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Former Fed Chairman Alan Greenspan has been
identified as a prime culprit in creating the
conditions for the financial crisis, in
particular for opposing greater regulation
and fostering a housing bubble. Today,
Greenspan is getting his turn on Capitol
Hill. And this time, he's speaking in terms
we can all understand: admitting some
responsibility, while trying to deflect
ultimate blame.
http://www.propublica.org/article/greenspan-s
ays-i-still-dont-fully-understand-what-happen
ed-1023/
Tags : Fed Waxman Greenspan |
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Affichage : 3946
Durée : 396 s |
| Alan Greenspan: "Shocked Over Credit Tsunami" Oct. 23 |
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Reuters
Oct 23, 2008
WASHINGTON (Reuters) - Former Federal Reserve
Chairman Alan Greenspan told Congress on
Thursday he is "shocked" at the breakdown in
U.S. credit markets and said he was
"partially" wrong to resist regulation of
some securities.
Despite concerns he had in 2005 that risks
were being underestimated by investors, "this
crisis, however, has turned out to be much
broader than anything I could have imagined,"
Greenspan said in remarks prepared for
delivery to the House of Representatives
Committee on Oversight and Government Reform.
"Those of us who have looked to the
self-interest of lending institutions to
protect shareholder's equity -- myself
especially -- are in a state of shocked
disbelief," said Greenspan, who stepped down
from the Fed in 2006.
With a general election looming November 4,
U.S. lawmakers were sharply divided along
political lines in either blaming regulators
or bickering for failure to prevent the
crisis that has gripped financial markets
around the world.
Source:
http://www.reuters.com/article/GCA-CreditCris
is/idUSTRE49M58W20081023
Tags : Alan Greenspan: "Shocked Over Credit Tsunami" Oct. 23 the fed financial crisis economic breakdown housing testimony bush money stock market crash |
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Affichage : 21719
Durée : 93 s |
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