Greenspan: Market Turmoil Is Not My Fault

New York Post   |  Janet Whitman   |   September 14, 2007 08:02 AM


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Alan Greenspan says don't blame him for the latest market turmoil.

The former Federal Reserve chairman said critics who have argued recently that he helped bring on the crisis in the market for risky home loans by cutting interest rates for three straight years "are mistaken.

"It was our job to unfreeze the American banking system if we wanted the economy to function," Greenspan told CBS' "60 Minutes" during an interview to be broadcast on Sunday.

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- grainger5 I'm a Fan of grainger5 5 fans permalink

Greenspan should be hailed as a hero.

Whatever he did, did the trick to bring down the Republicans brick by motherfucking brick.

And the beauty of it is, no matter how much you stupid cocksuckers huff and puff, there is JUST NO PROOF that he did anything to help ruin the economy. (hee hee hee!)

So, whoever Bush chose to do the books is left holding the balls.

Alan Greenspan.­..Hero of the Republic!

    Favorite    Flag as abusive Posted 01:45 PM on 09/14/2007

Greenspan is full of shit...!

He kept those interest rates artificially low so as to prop up the Bush Administration for the coming 2004 elections, to make it appear that the immoral Bushenomics were a viable sound policy especially as a time of war..no less..!

Greenspan let the Bush family spend money like drunken sailors in a whore house and bilk the Treasury at the same time so their corporate fascist mafia buddies..

Our national debt is about to hit
$9 Trillion dollars and more than half of the $9 Trillion, that's Trillion was accrued under Bush 41 and Bush 43..!

Greenspan should be ashamed of himself for the harm he has done all for the sake of cheap sleazy politics and for a family that still have the profits they gained from the gas factory at Auschwitz along with Standard Oil in their trust portfolio.­.

Greenspan will be Judged by history and all his equivocation and obfuscation today is nothing but typical Republican bovine scatology.­..

Simple as that..

    Favorite    Flag as abusive Posted 01:37 PM on 09/14/2007
- pompous I'm a Fan of pompous 6 fans permalink

Objectivist Alan Greenspan enjoyed being referred to as the "oracale." when it suited him. I am convinced he will now claim to be just a regular economist. While I don't think that Greenspan is entirely responsible for the mess he did establish the framework for it to occur. The remainder of the responsiblility lies with the greed of Wall Street and the over ambitious desires of the American middle class who have yet to learn the value of living within your means. Hopefully this will spark the American middle class to become more politically aware of the things that matter to their financial wellbeing,­i.e. savings, healthcare, salary and retirement.
Wheat prices have shot up 50% since the beginning of the year and energy has steadily increased. Leaving food and energy prices out of the CPI masks the growing weight of inflation upon the American worker.

    Favorite    Flag as abusive Posted 01:28 PM on 09/14/2007
- johnnyjust I'm a Fan of johnnyjust 6 fans permalink

These posts prove one thing:

Never take financial advice from a liberal.

    Favorite    Flag as abusive Posted 01:28 PM on 09/14/2007
- Henk I'm a Fan of Henk 20 fans permalink
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They just aren't greedy enough. A Conservative will sell out his own mother, bankrupt his grandma , steal grandpa's pension, home, bank account and put him in a nursing home never to be seen again, all before Church on Sunday. So yes if making money at all costs is your goal, go for the Conservati­ve/Wingnut­/Republica­n everytime.

    Favorite    Flag as abusive Posted 01:49 PM on 09/14/2007
- AKJM I'm a Fan of AKJM 18 fans permalink
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TWICE before church, and say praise the Lord while doing so.

    Favorite    Flag as abusive Posted 04:06 PM on 09/14/2007

HA HA HA
This is funny!

    Favorite    Flag as abusive Posted 05:46 PM on 09/14/2007
- Eoin45 I'm a Fan of Eoin45 44 fans permalink

And never take any knid of advice from JohhnyJust­PlainDuped

    Favorite    Flag as abusive Posted 01:54 PM on 09/14/2007
- opie I'm a Fan of opie permalink

I was just wondering---when did Greenspan learn to speak colloquial English?

    Favorite    Flag as abusive Posted 01:19 PM on 09/14/2007

Greenspan is a conservative politician at heart and never forgets his wall street buddies. Which means sooner or later greed gets the best of him, too. The only problem is everyone else except his his rich friends end up paying for his over indulgence in market strategy to promote the neoconistic theory of trickle down economics.

    Favorite    Flag as abusive Posted 01:03 PM on 09/14/2007
- Americano I'm a Fan of Americano 3 fans permalink
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To a large part Greenspan's error of judgement keeping the economy a float with low interest rates, helped the mortgage industry which fueled most of the early years of the Bush presidency, comtributed greatly to the subprime mortgage bust.

I worked in the financial sector in 2005, and it was common knowledge, the subprime bust was going to happen. There is no way he did not know. He is in denile!! Bigtime!

    Favorite    Flag as abusive Posted 12:56 PM on 09/14/2007
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He is obviously worried about his own legacy and knows his role in selling out America to the globalists is close to being exposed. If that happens, Andrea Mitchell will leave his wrinkled old ass.

    Favorite    Flag as abusive Posted 12:47 PM on 09/14/2007
- Mike169 I'm a Fan of Mike169 45 fans permalink
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Sounds like George Bush. Does anyone at the top of this government take responsibility for their fuck ups?

    Favorite    Flag as abusive Posted 12:47 PM on 09/14/2007
- kellygrrrl I'm a Fan of kellygrrrl 640 fans permalink
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whether or not he is responsible,
he better start coming up with some "Expert Opinions"
and "bright ideas" to bail out the banks who are already holding enormous inventory of real estate that they can't afford, and it's about to get a whole lot worse. If they are not able to find a way to help people keep their homes we are going to go from recession to depression real quick. At this point, the mortgage cos are already stating that they can't hold true on all the sketchy loans and monthly payments will likely double for a whole lot of people. I, for one, am really nervous!
So Mr. Greenspan, you want to stop with the deflecting of blame and start doing what your job?

    Favorite    Flag as abusive Posted 12:30 PM on 09/14/2007
- NewRiver I'm a Fan of NewRiver 21 fans permalink
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He is doing his job. As a FORMER Fed Chief, he now gets paid quite well for speaking gigs around the world. My guess it that he also "contracts" for some extra cash as well.

And then he's got that annuity at NBC called Andrea Mitchell to bank on as well.

    Favorite    Flag as abusive Posted 04:54 PM on 09/14/2007

Oh my, Greenspan is a typical repug, "not my fault". I know it will be a cold day in hell before any repug admits they made a mistake. I just do not understand why anyone except the ultra rich, the Israel lovers and people making money from the war would vote for a repug.

    Favorite    Flag as abusive Posted 12:24 PM on 09/14/2007
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Greenspan should have stuck to being a tenor saxophonist.

    Favorite    Flag as abusive Posted 12:13 PM on 09/14/2007
- PoHo I'm a Fan of PoHo permalink

He should have spent more time on the economy and less time helping Andrea Mitchell put spackle on her face.

    Favorite    Flag as abusive Posted 12:10 PM on 09/14/2007

pea's in a pod!

    Favorite    Flag as abusive Posted 12:26 PM on 09/14/2007
- EinChicago I'm a Fan of EinChicago 33 fans permalink

The low interest rates weren't the problem. The problem was spending a trillion dollars on a frivoulous war while cuttying taxes, thus forcing the US to constantly keep borrowing more and more and having to artifically hike interest rates to keep our debt attractive to China. The apr cuts by Greenspan weren't the problem. the rapid hikes in order to finance the war by Bernanke were.

    Favorite    Flag as abusive Posted 12:08 PM on 09/14/2007

All this economic and political turmoil is shock and awe. Alan Greenspan is a disciple of Milton Friedman, and they both believe in economic and political crisis to bring about dramatic social changes. The market pump up and expected failure is not an accident, but a controlled event. Hence the bankruptcy changes, the growing surveillance state, the prison economy, the buildup of Praetorian homeguard Blackwater, the Haliburton "camps" and more...

Plz check out this sensational short video called Shock Doctrine by Naomi Klein:

http://www.youtube.com/watch?v=kieyjfZDUIc

is about 6:46 long, and will literally leave you numb.

    Favorite    Flag as abusive Posted 11:51 AM on 09/14/2007
- AKJM I'm a Fan of AKJM 18 fans permalink
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Good short. It provided new ideas, and gave words for past ones.

    Favorite    Flag as abusive Posted 12:15 PM on 09/14/2007
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