It's a good thing or shut up already you retired?

[wonatthewire1]

Should Alan Greenspan keep flapping his gums or find a hobby?

I thought he "retired" from the economic stage to allow a new Fed Chairman to "guide" the economy. Guess not because he's talking more now than he ever did when he was working.

http://biz.yahoo.com/rb/071216/usa_economy_greenspan.html

[Tom]

Just another with a book out who suddenly knows it all.

[46zilzal]

Just another with a book out who suddenly knows it all.
An insider who's opinion shaped the economics of one of the biggest gross national products on the planet...he is a tad more informed than 99.99999999% of us.

[Tom]

On all topics?

[Marshall Bennett]

At least he doesn't come across with a biased attitude . Better than listening to some liberal or conservative politician who's best interest is in swaying public opinion of themselves or their party . Few if any of the current candidates have discussed economics in depth because in my opinion , its not their strong suit .

[JustMissed]

At least he doesn't come across with a biased attitude . Better than listening to some liberal or conservative politician who's best interest is in swaying public opinion of themselves or their party . Few if any of the current candidates have discussed economics in depth because in my opinion , its not their strong suit .

"In 1985, Keating hired Alan Greenspan as an economic consultant, in an effort to convince an oversight agency to exempt Lincoln Savings from certain regulations. Greenspan delivered a favorable report, writing that Lincoln Savings was "a financially strong institution that presents no foreseeable risk to depositors or the government." (Greenspan produced similar favorable reports on numerous other banks that also failed soon after.) The agency ultimately declined the request.

American Continental Corporation, the parent of Lincoln Savings, went bankrupt in 1989; more than 21,000 mostly elderly investors lost their life savings, in total about $285 million, largely because they held securities backed by the parent company rather than deposits in the federally insured institution, a distinction apparently lost on many if not most of them until it was too late. The federal government covered almost $3 billion of Lincoln's losses when it seized the institution. Many creditors were made whole, and the government then attempted to liquidate the seized assets through its Resolution Trust Corporation, often at pennies on the dollar compared to what the property had allegedly been worth and the valuation at which loans against it had been made."

JM :lol:

[JustRalph]

An insider who's opinion shaped the economics of one of the biggest gross national products on the planet...he is a tad more informed than 99.99999999% of us.

and he took a lot of flack from some guys who know what the hell they are talking about too.............

Many think he kept the economy down on purpose to draw out the natural cycles that occur. Many think that his actions are what setup the current housing crap..........he has taken his hits lately.

[Dave Schwartz]

Just another with a book out who suddenly knows it all.

Not suddenly.

I used to ask the question, "Are we training another Greenspan?"


Apparently we didn't.

[kenwoodallpromos]

I guess whenever anyone is the go-between when big business or a large industry (banking) that is in bed with the politicians they are always in demand; Is the money from his book and guest spots to rehash history or to keep his mouth shut about backroom dealings?

[chickenhead]

Greenspan had a hand in creating the housing bubble...now his plan to fix it is to give people money.

Brilliant!

[DJofSD]

Greenspan had a hand in creating the housing bubble...

Heard this stated on the radio today -- that one of the Fed governors (the one that recently died) apparently said 'watch out, the lenders could make trouble down the road' but Alan dismissed the governor.