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07 Apr 2010 10:17

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Biz: Alan Greenspan: The mortgage crisis not caused by the poor

  • The house price bubble, the most prominent global bubble in generations, was caused by lower interest rates but. … it was long-term mortgage rates that galvanized prices, not the overnight rates of central banks, as has become the seeming conventional wisdom.
  • Former Federal Reserve Chairman (and all-around smart guy) Alan Greenspan • Speaking in business-ese about something which we can put much more simply: Low interest rates that allowed low-income people to buy houses didn’t cause the housing crisis. Instead, the culprit was a couple levels up the food chain. Speak English, Alan. (Greenspan, by the way, is attempting to defend his legacy here.) source
Posted by Ernie Smith • 0 Comments • Permalink

07 Feb 2010 20:36

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Politics: Max Headroom: A bunch of financial guys hit the Sunday shows


  • “I Won’t Close the Door” Sarah Palin’s answer here sounded kinda vague, but read between the lines – it’s clear she’s been thinking about it. Come on. She’s already thinking like a presidential candidate. Whatevs.

  • The old financial dudes Today on “Meet the Press,” Henry Paulson and Alan Greenspan try to analyze the recession and the job market. Greenspan suggests tax cuts to drive economic activity that encourages job creation.

  • The new financial dude Timothy Geithner, Paulson’s replacement as treasury secretary, says we’re seeing some “encouraging,” though uneven, signs of growth in the economy. He says a double-dip is unlikely.
Posted by Ernie Smith • 0 Comments • Permalink

13 Dec 2009 23:41

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Politics: Max Headroom: Not even Barbara Walters can soft-pedal Glenn Beck

  • The Odd Couple Here’s that Alan Greenspan video we mentioned earlier. Our boy Al says a lot of smart stuff here, but the part that weirds us out is the fact that his sparring partner is crazy financial guy Jim Cramer. Great match, guys.


  • The Moderate Couple     On “Face the Nation,” Joe Lieberman and Ben Nelson were standing their ground for a health care option which gets rid of all the stuff that makes the health care bill desirable. These two guys are holding the bill back, liberal types.


  • The Vapid Couple    Barbara Walters’ “10 Most Fascinating People” must’ve hit the bottom of the barrel this year, because Glenn Beck was on the list. Here’s the interview, and we must warn you: Glenn Beck still sounds like an idiot when he’s talking to Barbara Walters.
Posted by Ernie Smith • 0 Comments • Permalink

13 Dec 2009 22:04

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U.S.: Alan Greenspan says the Federal Reserve can’t stop unemployment

  • Bro says we’re too close to the edge of inflation. Alan Greenspan, oh, how could we live without your insight? The former Federal Reserve chairman told “Meet the Press” that we’re on the edge of what the organization can do to curb unemployment. “You cannot ask a central bank to do more than it is capable of without very dire consequences,” he continued. We imagine he also said, off-camera, “I was way better at this job than that Bernanke #(&hole,” but we don’t have proof of this. source
Posted by Ernie Smith • 0 Comments • Permalink

25 Aug 2009 10:06

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Biz, U.S.: Obama’s got Fed Reserve Chair Ben Bernanke’s back

  • As an expert on the causes of the Great Depression, I’m sure Ben never imagined that he would be part of a team responsible for preventing another.
  • President Barack Obama • In a speech this morning confirming that Bernanke would be reappointed to his post as Federal Reserve Chairman. It’s notable in one way – Bernanke’s a Republican, which means Obama’s got a bipartisan feather in his hat – but considering Bernanke’s predecessor, Alan Greenspan, stuck around for multiple administrations, maybe it’s not. But then again, Greenspan didn’t have the mess that Bernanke’s dealing with. Either way, go Ben! • source
Posted by Ernie Smith • 0 Comments • Permalink

17 Aug 2009 22:29

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Biz, Politics: Alan Greenspan thinks the economic recovery is fleeting

  • I think we’re OK for the next six months. We are getting a recovery in (housing) starts and motor vehicles, but the process doesn’t have legs to it.
  • Former Federal Reserve Chairman Alan Greenspan • Giving his prognosis for the economy. Greenspan spent 18 years chairing the reserve, and he knows what he’s talking about. Greenspan’s tenure has been attacked by some critics who say that the housing bubble burst on his dime, but he defends what he did during the time there. One interesting factoid that came out of this: Greenspan says the auto market is oversaturated, with 20 percent more vehicles on the road than licensed drivers. What’s wrong with that? Everyone needs a car AND a truck! • source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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