Comments on: Greenspan Defends Low Interest Rates

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

[drinuk]

The collapse in the housing market is a contrived policy by lenders. First, they lend to anyone with or without the means to repay, that in turn creates false increased valuations and false demand. Then, when borrowers can''t repay they pull the rug and place the property on their books usually at a greater value than the original loan. Having held the item for a little time and together with a friendly re-seller it is sold at a greater short term profit than they would have made from the interest. Crooked banks just love repossessions and never loose on the deals, always selling for more than the original debt, even if they have previously sold the debt they still earn on the resale irrespective of the fall in valuations. Profit made should go back to the original borrower but he or she is by then out of the equation.

It is a policy designed by the Elite for the Elite which they repeat at intervals and at a monumental cost to usually ordinary but naive people. Even if they cannot make the desired margin per property immediately they will place it on the rental sector until prices improve, it''s win, win and is repeated all over the country a million times. However deep the so called depression is hyped up, the crooks clean up.

Oh! and they love developers with a street full of new unsold properties, someone up the line is going to take his profit when they call in his loan too.

[tnt1954]

like they need us. for what? its all arranged comrades. **** computerus, androids running
things, and we just ''vanish'', as ''unnecessary''.
see, we''re ''deadweight''. corporate streamlining.
and bill gates and melinda will have their
train set to play with.

[mcvet]

lars? You on this late? How you doing you old Nazi... didn''t have a klan rally tonight huh? Is there EVER an American that doesn''t agree with you that you doing hate? I mean really! Just think if the founding fathers hadn''t been more liberal than you where we''d be? There would be no Bill of Rights, your Con brothers apposed it according to records.... come to think of it there would be NO democracy, you guys wanted to keep the king. Is THAT the reason you look at the slime monkey a few still call a President like you do. I mean there has NEVER been a bigger screw up than Bush but you losers just keep saying Yes Master. If it were left to you losers we''d still have Rummy running defense and Bush would still be telling us to stay the course, we''re winning! ROFLMAO I guess Jefferson was right, keeping you reminds us of how bad things were before. Sieg Heil Y''all. ROFLMAO

[sharncedar]

Why is that disgusting old thief still in the media? Why does he feel the need to trot out his disgraceful traitor self? Because, like OJ, the enormous guilt he bears keeps him from resting. He cannot quietly reture with satisfaction because he committed such enormous infamy not only against his country, but agaisnt his own values. That''s right, the young Alan Greenspan wrote and talked about the importance of the Fed not using its powers to serve the thieving hedge fund types on Wall Street, but rather to serve a sound economy. Then in office, after he got that sick and perverted young journalist as a wife, he went over completely to the dark side. He ran our currency and our country into the ground. We will certainly pay for the thievery of this man and his corrupt friends for many, many years.

There was never a reason to put the interest rates below 5%, let alone below 2%. There could never be a reason, short of catastrophic tradgedy such as the loss of half the nation, to keep interest rates below 2% for four years.

Alan Greenspan said it best when he said himself that inflation (and by the same argument any wanton increase in he M2 money supply whether ro not you call it "inflation") is the most evil kind of tax. too bad his younger self didn''t commit suicide, and save us all the giref we are embarked upon.

[tylenol6]

The wizard evil and slimeball Alan Greenspan knew exactly what he was doing. Anyone would have to be a
complete idiot not to think people wouldn''t jump on this and go and buy a house knowing they had **** poor credit. Idiot Bush will of course bail out the banks, but it sure looks like to me the buyers who signed those hefty mortgages will lose their homes. They should have understood what they were signing......

[fizzal-2009]

Stop playing with the money and just hire a few social workers to place someone in your home and if you can,t pay the mortgage just rent a room to help with the expenses.

[crater7]

GREENSPAN SHARPLY CRITICIZES BUSH''S ADMINISTRATION AND REPUBLICAN CONGRESSIONAL LEADERS FOR PUTTING POLITICAL IMPERATIVES AHEAD OF SOUND ECONOMIC POLICIES.

"LITTLE VALUE WAS PLACED ON RIGOROUS ECONOMIC POLICY DEBATE OR THE WEIGHING OF LONG-TERM CONSEQUENCES BY THE BUSH ADMINISTRATION. GREENSPAN UNSUCESSFULLY URGED THE WHITE HOUSE TO VETO "OUT-OF-CONTROLL" SPENDING BILLS WHILE THE REPUBLICANS CONTROLLED CONGRESS.

REPUBLICANS "DESERVED" TO LOSE THE CONTROL OF CONGRESS IN LAST YEARS ELECTION BECAUSE IN THEIR WILLINGNESS TO APPROVE SPENDING MEASURES THAT WOULD BENEFIT REPUBLICANS EVEN AT THE COST OF FISCAL PRUDENCE, THEY " SWAPPED PRINCIPLE FOR POWER''

STAY THE COURSE................

[feelfree1]

It will be funny to watch Alan Greedscam squirm and sweat, as the level of anger against him grows, for having ceated the housing market bubble and the unfolding collapse, out of his own stupidity, short-sightedness, and greed.

[sharncedar]

The most notable characteristic of a fascist country is the separation and persecution or denial of equality to a specific segment of the population based upon superficial qualities or belief systems.

Posted by lars008 at 02:59 PM : Sep 14, 2007

Actually the most notable aspect of a fascist country is the belief in the supremacy of the state over the individual, plus a darwinistic right-wing philosophy. Read the writings of Mussolini, for example. Perhpas I should point out that Mussolini was a famous actual fascist from history, for those who like George Bush had a C+ average and skipped history class.

The Darwinistic right-wing philosophy is also an important component to fascism, as there have been several other state-centric government systems that were based on left-wing collectivist philosophy.

By these criteria, Islam meets the criteria of extreme right-wing philosophy in social matters, but it is not Darwinistic because ther isn''t that strong pseudo-capitalism where the strong survive, or the rich get richer, or the rich deserve to be rich. Islam is also not state-centric, it spans many states and considers the nation/state to be secondary to religion. A very bad candidate for the label "fascism", while George Bush and his followers such as lars are very good candidates for the label "fascism".

[lars008-2009]

Posted by walt1944 at 06:04 PM : Sep 13, 2007

SYSTEMIC CORRUPTION IN THE DEMONIC-RAT PARTY
FBI arrests 11 NJ officials for bribery
All of them are Democrats.
http://www.nj.com/news/index.ssf/2007/09/fbi_arrests_11_nj_officials_fo.html
systemic corruption in the Democratic Party
Corruption sting crosses N.J.
12 charged in a widening investigation that began with contracts in an Atlantic County school district.
http://www.philly.com/inquirer/local/20070907_Corruption_sting_crosses_N_J_.html
Hillary campaign honcho among 11 busted in N.J. sting
http://www.nydailynews.com/news/wn_report/2007/09/07/2007-09-07_hillary_campaign_honcho_among_11_busted_.html
11 Arrested in N.J. Corruption Inquiry
http://www.nytimes.com/2007/09/07/nyregion/06corruptCND.html?em&ex=1189310400&en=b504d6c2fbd19cba&ei=5087%0A
Castro''s tip: Clinton-Obama the winning ticket
http://www.reuters.com/article/politicsNews/idUSN2825114320070829?feedType=RSS&feedName=politicsNews&rpc=22&sp=true
Kathleen Willey: Clintons stole my manuscript
House burglary over weekend targeted copy of book days after details leaked to press
http://www.worldnetdaily.com/staticarticles/article57498.html

[lars008-2009]

Posted by walt1944 at 06:04 PM : Sep 13, 2007

and you thought gonzales was bad...

HSU A NO HSU AT HEARING%u2026 LOL
Democratic Donor a No Show at Hearing
http://apnews.myway.com/article/20070906/D8RFKG500.html
Dems Dirty Donor Norman Hsu Fails to Show for Bail Reduction Hearing Leading to Speculation He''s On the Run
http://www.foxnews.com/story/0,2933,295828,00.html
china buys usa elections???
http://www.google.com/search?hl=en&q=chinese+campaign contributions democrat
Big Source of Clinton''s Cash Is an Unlikely Address
Family''s Donations Closely Track Those Of Top Fund-Raiser
http://online.wsj.com/article/SB118826947048110677.html?mod=hpp_us_whats_news
Report: Hillary Clinton Big Money Donor Wanted for Grand Theft
http://www.google.com/search?hl=en&q=Hillary Clinton Big Money Donor Wanted for Grand Theft&btnG=Search
http://www.foxnews.com/story/0,2933,295031,00.html
Leading Clinton Donor Stays Below the Radar
http://online.wsj.com/public/article/SB118835199704811801.html?mod=blog
''DIRTY CASH'' MAN FLEES
http://www.nypost.com/seven/03042007/news/nationalnews/pro_clinton_dirty_cash_man_flees_nationalnews_christine_field.htm
RNC pushing the China angle
http://www.politico.com/blogs/bensmith/0807/RNC_Pushing_the_China_angle.html
Democrats Turn From Big Donor Who%u2019s Fugitive
http://www.nytimes.com/2007/08/31/us/politics/31hsu.html?ei=5065&en=c3f5afa614172532&ex=1189224000&partner=MYWAY&pagewanted=print

[lars008-2009]

Posted by walt1944 at 06:04 PM : Sep 13, 2007

DEMONIC-RATS SOLD THE USA OUT TO CHINA!!!

The tale of shady Chinese Clinton donors avoiding U.S. justice is a familiar one that dates back to the 1996 Clinton-Gore fundraising scandal known as Chinagate. The Clintons took millions in laundered foreign campaign donations from Chinese Communists in exchange for liberalizing trade policy with China, dropping pending indictments against influential Chinese figures, spots on a U.S. trade mission and overnight stays at the White House.
Many of the Chinagate donors were successfully prosecuted even though Clinton Attorney General Janet Reno blocked investigators%u2019 efforts at the Justice Department. More than 100 people connected to the fundraising scandal fled the country, however. Norman Hsu seems to be following their lead.
http://www.corruptionchronicles.com/2007/09/hillary_donor_flees_like_china.html

[lars008-2009]

Posted by walt1944 at 06:04 PM : Sep 13, 2007

it will never happen moonbat...

FASCIST NAZI TERRORISLAM / PERFECT EXAMPLE OF FASCISM!!!

Fascist nazi terrorislam is intent on killing or enslaving all non muslims......

Why is there no muslim country that grants equal rights to non muslim citizens???

The most notable characteristic of a fascist country is the separation and persecution or denial of equality to a specific segment of the population based upon superficial qualities or belief systems.
Simply stated, a fascist government always has one class of citizens that is considered superior (good) to another (bad) based upon race, creed or origin. It is possible to be both a republic and a fascist state. The preferred class lives in a republic while the oppressed class lives in a fascist state.
http://www.couplescompany.com/Features/Politics/Structure3.htm

[hypnotoad72]

walt1944 - China cannot sell their investments; their credibility is so far down the gutter... and given how they''ve treated the US with toxic and poorly made products, do you think they''ve got any credibility in attempting what you are suggesting?

Besides, we''re a global marketplace in a globalized economy. Neither side has much of a footing, because we wouldn''t give enemy countries technology and jobs; that and other events have shown China was our friend. Bill Clinton certainly thought so by giving them the MFN status...

[gino171-2009]

to walt1944. you are right. scary isn''t it. i am tired of everything made in china. lets bring back our jobs.

[gmcnally2]

I never knew what money really was until I watched ''Money Masters'' on Google video. The Federeal Reserve is a Private bank. As such, they are about profits and not some moral obligation to protect Americans. Business cycles redistribute wealth and it ends up in the hands of, guess who?, the already ultra-rich. The Fed CAUSED the Great Depression on purpose, the withdrawl of money from the system is well documented. We pay almost a trillion dollars a year in taxpayer money for the interest payment on our loans, and for no reason whatsoever. Close the Fed, let the government regulate $, keep the interest. Say ''No, Thanks'' to the Europeans and English who truly run this country. Say ''No Thanks'' to a Debt-Based and unsupportable economic system. Say No more inflation (hidden tax). All this could be regulated and stabilized very easily.

[Skysblue]

If you believe Greenspan''s take on this...that he was caught off guard.....well I have some tap water to sell you. Only an idiot could have not seen this coming.

If you believe his story then you must be part of the same group that believes the US government has done all it can to stop illegals from crossing out borders.

Wake up. Both of these disasters happened knowingly without government intervention because both benefit wealthy business owners and stockholders. Period.

[lizardbate]

To bthrasher??? You must not be a home owner yourself. All these foreclosures are going to cost you as well. However, I agree with your thoughts on greedy lenders, which the government does support, I think they should lose the tales. And, I agree with you that people purchased homes they could not afford, but everybody would like to own a home and they were offered a chance from the golddiggers and it did''t work out.

[vancouverboo]

The inevitable crash keeps getting postponed with more and more cheap money. It''s just going to be worse when it arrives. You can only hold off duesday so long. Europe, China, Japan and Arabia are converting out of dollars as discretely as they can. No one wants to tip their hand to the rest of the world. No one wants the panic, yet. When it comes they will dump dollars as fast as they can. The more cheap money there is, the more they will have to dump. Find a crack to hide in, brothers.

[walt1944-2009]

One day, China will call all its outstanding loans with the US and bankrupt the country. The Chinese, with their 1,000,000 man army will march into the US to claim its infrastructure as collateral, much as a typical US mortage lender will repo your house if you don''t pay the mortgage.

Prepare for the day when we will be all working the fields growing rice, like the Cambodians did under the Khmer Rouge, while the big shot businessmen and political crooks will be laughing at us from their offshore villas.

LONG LIVE THE AMERICAN DREAM (PROBABLY NIGHTMARE)!!!

SIG HEIL, BUSH!!!