Comments on: Greenspan Defends Low Interest Rates

Former Federal Reserve Chairman Talks To Lesley Stahl About Subprime Mortgage Meltdown

[sarrah2]

Wow! Alan Greenspan wants us all to know that the Bush Administration wasted money and that he, himself, was slow to realize that his roller coaster theory of interest rate manipulation unfortunately damaged our economy yet once again. After 9-11, Iraq, Katrina, and all the rest, J.Q. Public is no longer fooled by attempts at self-justification by a long term government bureaucrat and political hack. On Greenspan%u2019s incautious watch, interest rates were either in vertical lift off or dropped off a cliff, creating two recessions in two different administrations, with no interference by Congress.

In short: Imprudent Alan took his axe and gave our money 40 whacks. When he saw what he had done %u2013 he turned and gave it 41!

[jakemi6]

Did I just hear Leslie Stahl advocate the restriction of speech? Would she have asked the question about restricting statements by former Fed chairmen had she liked what Mr. Greenspan said? Free speech should not apply only to popular speech. Tough unpopular statements are precisely the kind of speech that requires protection. Perhaps Ms. Stahl needs a refresher course in basic civics.

[jakemi6]

Did I just hear Leslie Stahl advocate the restriction of speech? Would she have asked the question about restricting statements by former Fed chairmen had she liked what Mr. Greenspan said? Free speech should not apply only to popular speech. Tough unpopular statements are precisely the kind of speech that requires protection. Perhaps Ms. Stahl needs a refresher course in basic civics.

[bpech]

I just watch the interview. Lousy job Lesly! You should have left the former fed chairman talk and not interrupt him all the time.

[suckanegg-2009]

MR GREENSPAN IS OF *** AND IS DOUBLE FACED SOB. HE IS A VAIN AND STUPID. LESLIE STAHL IS TOO DUMB TO INTERVIEW THIS SLIMY SKUNK . IF YOU DON''T KNOW YOUR HISTORY MAKE ROOM FOR SOMEONE ELSE TO DO THE JOB. I THINK YOU NEED TO INTERVIEW SOMEONE TO CHECKMATE THIS SENILE IDIOT AND SETTING HIM STRAIGHT BECAUSE HE IS STUPID LIAR.

[feelfree1]

Alan Greedscam will bear the brunt of the blame for destroying the U.S. economy, and sending us into a deep and painful recession.

His idiotic and greedy policies will almost certainly lead to crippling stag-flation.

[tnt1954]

and everyone became multi-millionaires, so they
never had to work anymore, and we had to import
foreign labor to do all the real work. and lo
and behold there were more foreigners in america
than natives. and lo and behold the foreigners
now own america. and lo and behold the national
debt is now 9 trillion dollars. and lo and behold
everyone became beholden way in debt, and lo and
behold nobody could pay the inflated price, and
besides the foreginers had all the money. and
lo and behold the pay toilet, 60 dollars a flush
came into being, including taxes.

[donbl1]

I was disappointed in Leslie Stahl today, also.

Her lack of understanding indicates she was the wrong person for the interview. Don''t any of the 60 minutes crew have more than a journalism education...... somebody (the producer?) has got to know the subject to make it work.

As much as I respect Greenspan''s dedication to his Fed role, I do think he could have waited a little while longer before publishing. I don''t think he needs to justify his performance nor his decisions. He did a good job. His only other reason for the book would then be publicity which I always thought was below him.

[muggs1114]

I''m extremely disappointed in the Alan Greenspan segment or your recent program. You failed to air his opinion on George W. Bush and his view on the Iraq war and its connection to oil. In reviewing his past you illuminated things that no longer are prevalent. A review of Greenspan''s recent book tells of Greenspan''s adverse opinion on Bush''s spending and his disappointment that the Iraq war and its oil connection has been hidden from the public. This is what matters today. Is sixty minutes and Ms. Stall afraid of riling the present administration. You fail to tackle the hard questions. It is obvious that you are afraid to front the issues that really impact America. Sixty minutes in my opinion has become a soft, inconsequential television magazine. I would be just as well served as watching reruns of the Simpsons.

[kdf_worf]

Strange....LS kept the story about Greenspan''s life in Public service, but not his dislike of Jr''s handeling of the US......although they did get to cheyney''s dislike of Greenspan.....briefly.

But, as ususual, they whitewash any hatred of this administration, and it''s inept handeling of the War, and the american public at large.

[pjw5610]

Leslie Stahl had a perfect opportunity to give us insight in to one of the most interesting and capable people in modern financial governement. Instead the interview and presentation was typical of the nauseating feeding frenzy for the negative and "flip" attitude that has bcome the core of US news today.

[jcray140292]

LS interviews Al Greenspan. She asks and he responds about his dislikes for Nixon & the Bushs. He liked Ford personally. He responds fondly over the Clintons. Why no comment of Carter? Could it be that CBS and LS wanted no part of denigrating a Democratic Bafoon who nearly ruined the entire country, kind-heartedly that is!

[hannahunter]

I have never heard anything more rediculous...as a real estate agent for nearly 20 years, in many different markets this has been the most challenging. And, now I have been for quite sometime tossing around the idea of moving on to another proffession. Why??? Idiot!!!

[bshlensky-2009]

Great interview . It was old 60 minutes ,meshing personality, challenges and disucssion . Why does Greenspan acknowledge his praise of clinton and Hillary and thier economic polices . However he criticizes Bush''s tax cut execution and still says he is a republican . Has he read to much Ayn Rand ?

[aftf_truth]

Furious!!!!
LS asked if he invests after leaving "the government"? The Fed Reserve is NOT a government entity! A private banking institution that makes money off the American taxpayers, keeping the public in a state of serfdom. Get your facts right, and tell the truth!

[cherylez]

Geez, Lesley Stahl clearly doesn''t know her stuff. Twice she referred to Greenspan as someone working for the Government...what a disgrace! She asked if he misses working for the government...For God''s sake...he is a Private Banker...he never worked for the government. Then she asks if he misses his boss, George Bush...again George Bush doesn''t control the Private Central Bank.

Aren''t there editors who review this *** before it''s aired? I just lost a LOT of respect for 60 minutes!
What other MYTHS are you reporting on?

What a sham! What a disgrace to mislead the American Public on this issue. Fed Reserve is NOT part of the Federal government at all...and anyone who controls the money...Controls the People!

Abolish the Federal Reserve NOW!

[atr98]

The Fed keeps bailing out Wall Street.

Low interest rates destroyed motivation for savings accouts. Low rates prevented workers from saving. Who would open a saving account, paying 2% interest or less. After inflation and taxes - It is a loss.

Money was diverted into other assets. Stock Market bubbles and Real Estate Bubbles.

Greenspan was the cause - Not the cure.

Now we are a nation, with high debt and low savings.

The Greenspan experment did not work.
Low rates

To correct the problems caused by ultra-low interest rates - Interest rates will have to be raised above the norm.........

The out come. Debt held by Japan and China will crash. China has never experienced the downside of capitalism.

Higher rates will result in lower debt levels, and higher savings.

[actornaught]

Even tho it''s been news all day, this right-wing CBS news hasn''t reported that Greenspan is a huge detractor of little bush, and most liked how Clinton handled the budget.

How dare CBS pander so...

[actornaught]

A small prediction: as free trade trends down our incomes and lifestyles, real estate values will decline. Either people making $20k will have property they can afford, or more likely, there will be just a few landowners holding most real estate.

On a partially related note, are there tax breaks for commercial property left empty?

[tnichlsn]

This administration is run by the same people who were in charge when the Texas real estate market collapsed under similar circumstance. The rest of the US had to bail out the crooks from TX, I wonder who will be in a position to pick up the pieces when the national disaster kicks in fully? We''d all better start practicing our Mandarin.