Comments on: Greenspan: My Faith In Banks A "Mistake"

Former Federal Reserve Chairman Tells House He Sees Flaw In The Free Market Model

[ajaxtheleast]

Judging from early voting returns
the public is initiating a tsunami
of their own right now.

[steamed2]

More than one person has pointed out that Alan Greenspan face looks like a horse''s ***, now he appears before Congress and proves he is one! Even under the best of circumstances most people would rather have cordless drill used on their head than listen to Greenspan drone on an on about any subject, but given these Congressional hearing I can''t imagine not simply getting up, walking over, and choking the sh*t out of the dumb son-of-a-b*tch while he tries to say no one could see this coming. Gee Alan, how does it feel to have your entire career and reputation flushed down the toilet like the piece of excrement is was? The tens of thousands of people who have lost much of their savings all hope there really is a special place in hell for people like you.

[xyno-2009]

If the Dems want to know who''s to blame for the sub-prime mess, they only need to look in their own back yard:

This housing crisis didn''t come out of nowhere. It was not a vague emanation of the evil Bush administration.

It was a direct result of the political decision, back in the late 1990s, to loosen the rules of lending so that home loans would be more accessible to poor people. Fannie Mae and Freddie Mac were authorized to approve risky loans.

This was completely foreseeable and in fact many people did foresee it. One political party, in Congress and in the executive branch, tried repeatedly to tighten up the rules. The other party blocked every such attempt and tried to loosen them.

I have no doubt that if these facts had pointed to the Republican Party or to John McCain as the guilty parties, you would be treating it as a vast scandal. "Housing-gate," no doubt. Or "Fannie-gate."

Instead, it was Sen. Christopher Dodd and Congressman Barney Frank, both Democrats, who denied that there were any problems, who refused Bush administration requests to set up a regulatory agency to watch over Fannie Mae and Freddie Mac, and who were still pushing for these agencies to go even further in promoting subprime mortgage loans almost up to the minute they failed.

[lochlan-2009]

"Greenspan To Talk "Credit Tsunami" On Hill"

He should be in jail as an accomplice with the rest of this administration. Didn''t he lower the interest rate, using the excuse of 9/11, the Enron and others accounting scandals, and the dot com bubble, to push the uneducated poor and middle class into banks to get predatory loans on a house, before the prices became untouchable, and maybe, just maybe increase there networth also. Big surprise, after they have enough fish in the bag they close the net and, those idiots that believed they could refinance into a higher rate fixed loan later, are stuck with an ARM that is shooting through the roof.
Fifty year mortgages, interest only loans, we all heard the advertisements. They did nothing to stop the blatant predatory lending, did they? We all know there are loads of morons out there who don''t have a clue about what''s going on in the world around them. In fact, the majority of Americans don''t want to care or learn or think, and don''t, and then wonder why they''re stuck in Sh@t up to their necks.

Dumbed down Americans.

The perfect victims for these predators.

[steamed2]

Well, I guess Greenspan just about completes the grand circle of incompetant people assembled by corrupt politicians to run the country into the ground. So now we get treated to one more moronic display of a totally impotent Congress staging meaningless hearings where another idiot points his finger at someone else and says ''not me, not me!" That Greenspan has the unmitigated gaul to try and float his ''perfect storm'' of financial disaster that no one could anticipate is an insult. His tenure at the Federal Reserve goes down in history as a bad joke on the American people.

[rjs1955]

CHECK YOUR FACTS gop-will-win

GREENSPAN WAS APPOINTED IN 1987 BY RONALD REAGAN!!!!!! HE WAS REAPPOINTED EACH 4 YEARS, IN 1991 BY BUSH, 1995 & 1999 Clinton, 2003 Bush, Jr.
from Wiki - "In 2004 Business Week Magazine criticized his keeping of low interest levels too long and his concurrent praise of sub-prime lending vehicles such as ARMs as leading to a housing bubble.[3] Some, including Nobel Prize-winning economists Joseph E. Stiglitz and Paul Krugman, assign a large degree of culpability for the devastating Economic crisis of 2008 to Greenspan."

[oscarez]

Greenspan, who was the chairman of the Federal Reserve for 18= years, must have had his head up his butt not to know what was happening!!!! Greenspan was first appointed by Ronald Reagan in August 1987.

[max0010]

Economic Crisis---Constitution Crisis-8 STATES (Hawaii, Washington, California, Florida, Georgia, Pennsylvania, New York and Connecticut seeking judicial authority to certify Barack Obama qualifications ---Obama is ignoring the suits (hired attorneys to fight), and the %u201Cmedia%u201D does not wish to have the American public know what is going on ----DESPOTISM has arrived in America. Throw away the constitution!

[gop_will_win]

Remember, Greenspan was appointed by Clinton. He is a liberal.