the government must help out the finance companies; they made a lot of stupid mistakes, and taxpayers should pay for them because alan creepspan said so. healthcare, on the other hand, is not affordable.

I think its interesting how Greenspan wants to reach out and let the public know how he feels now. How did he feel when he was in a position to advise the public on all the questionable loans the housing industry was making, sliding interest, etc? Why doesn't he just keep his mouth shut unless he has something constructive to say to get us out of the mess he helped nurture.

The categorical imperative strikes again.

Immanual Kant said an act is moral only if everyone can do it. It is the "bring enough chewing gum for everyone" rule.

Can you profit by stealing? Yes.
Can you profit if everyone steals? No, society will collapse.

Signing the change in the bankruptcy laws was Bush first act as President. It did offer both taking the house and garnishing the owners pay for life to pay the mortgage. Doubling your money. Anyone who studied philosophy knew it was immoral and would result in disaster.

This whole mess is a perfect example of what is truly wrong with America.

GREED

The money lenders loaned money to people they knew could not pay the loans. Why would they do this? Look back over the past few years of changes made by the rich protectionist. Bankruptcy laws were changed so that those who file bankruptcy can do so but they still have to pay back the money. Why is that important and what does that have to do with this current catastrophe? Easy, the banks loaned the money knowing that most of those they loaned to could not pay back the loan. They did this so that they could take the land and homes from these borrowers but on top of that these borrowers have to pay back the money because of the changes made to bankruptcy laws. The banks were looking to double their money. The only thing they didn't figure on was that the bottom of the housing market was fixing to fall out. Now they are stuck with a lot of homes and land but they can't get rid of them because no one is buying.

He played Henchman for the Reverse Robin Hoods on Wallstreet, cheering the mass exodus of American jobs and NOW his over-rated mind is trying to grapple with the fact that the un/under-employed can't make their house payments???

It's f*c%ing insane that America had to *re-learn* the lessons of the early 20th Century with regard to unchecked Capitalism.

We really are a stupid bunch.

He caused it following the orders of you know who. And people fell for the "booming economy"
lie by Bush. All they had to do is look around. And guess what, it will happen again and again because people pay no attention who they put in office and how they are represented.

Those familiar with Greenspeak know that Alan means lenders when he says home owners.

Greespan said there is an "overhang". a glut of housing. That is so classic, right out of Karl Marx.

. When the working class does not have enough money to buy something that desperately need, reactionary dickweeds call it a glut, and oversupply of goods. I guess there is a food "overhang" in Ethiopia, they eat so little.

There is plenty of demand for housing from "the homeless" for example and working poor renters.
Government needs to raise wage levels and provide more jobs. We need more low income housing.

Not housing in trailers. Not jobs killing Iraqis, either.

Putting a few predatory lenders in jail would not hurt.

ahhh so greenspan is trying like hell to 1)cleanse his soul for causing this mess and 2) to try and remain relivent.

like moron* he will go down in flames in history as a totally failed human being.

AG really needs to hush up.

A good book:

"The Creature from Jekyll Island : A Second Look at the Federal Reserve"

http://www.amazon.com/Creature-Jekyll-Island-Federal-Reserve/dp/0912986212/ref=pd_bbs_1?ie=UTF8&s=books&qid=1197902239&sr=8-1

oh he's warning us all now? Now that it's too late and he sold America out AGAIN.

I think this creep needs go do some gardening and die a quiet death and STFU.

hasn't this creep done enough damage? why would anyone give him an audience when he got us in this mess to begin with?

Who told greeny there was a middle class?

It was real interesting that Greenspan said absolutely no to cutting taxes for the middle class but was fine with dumping cash in to bail out the avoidable housing disaster.

Considering how much Greenspan has to do with the current crisis it is unbelievable that he would have the nerve to open his mouth. Oh right, he's got a book to shill and his ugly mug will be all over our television screens for some time. He will spout his B.S. and no one will challenge anything he says. Did anyone else notice that George Stephanopoulos was so obsequieous on This Week that I kept expecting him to genuflect before speaking to this corrupt and dishonest old man? But then Stephanopoulos quit having any integrity quite some time ago. When it comes to a choice between having high profile, high paying positions and having integrity we know what these main stream media clowns choose.