Greenspan: Worst Of Credit Crisis Over

Former Federal Reserve Chairman Alan Greenspan said on Thursday that the worst of the credit crisis is over, according to sources who attended a speech he delivered in New York.

Greenspan also said house prices still had a long way to fall and that it was unlikely they would stabilize by year-end, according to meeting attendees who provided Reuters details of the speech at the Alternative Public Strategies Conference.

Read the whole story here.

Comments

[rikkirighteous]

no No NO!

Do you want liberals to be as happy as conservatives by giving them one less thing to worry about?!?

Don't you realize the incredible need they have to see only negative? For the love of God, when you have a truth like this, keep it to yourself!!!!!

[AdobePhsyko]

This clown gets quoted even though he is the idiot that ruined our economy.
Why not ask Britney Spears where the economy is going ?
I'd trust her opinion more than his.

[strifeknot]

A sure sign the worst is yet to come.

[mmckinl]

Hmmm ... let's see $300 billion written down and $700 billion left to go ... Fourth inning tops ...

Then the SEC announced everyone would have to come clean this fall ... watch out below!

[Formulaplot3]

Tens of millions of foreclosures & empty homes. Gee what will we call the new RV & tent towns? I know - hows about GreenSpan-villes. Just like the Hoovervilles of the last Depression.

This guy has a long history of positioning the middle & lower classes of America in these kinds of catastrophic situations. Manipulation of easy & abundantly profered credit, abominable de-regulation & miserable enforcement of lending standards during his management of the FED has led to this next GREAT DEPRESSION. History will reveal that this man was a financial advisor to Keating. Remember that housing debacle? It was probably a tri-state game plan for what has occurred on a much larger scale across this country. Sooner or later people will start to realize some of the truely horrendous consequences of this disaster in terms of massive pension fund losses.

Unfortunately, this old codger will probably kick the bucket before we see the worst of this grandiose scheme's end. I hope we learn to erect dark monuments to these wretched scoundrels so that future generations will not forget those individuals that have done the most harm to our once great nation.

[FrictionSoul]

Whatever you say Alan Greencon

[VictorLudorum]

The Justices and Federal Resrve Bank chiefs are in the feild trying to farew through public opinion.. Scare them,cheer them up,they are public..threaten them,tear them send them to die on foriegn soils..they are paying the dues to some 'REPUBLIC' they never voted.. Paying Jews and Secularists who will carry on..The Secularists especially dont even have a presentation ................... MONEY

Money
Its a VERB now
an ROI was born to it
ROI of Choice
Do you the kind of days these are.RETURN ON INVESTMENT... with CHOICE..Terms "decide earlier'.

[ratcityreprobate]

I'm just praying for Greenspan to be over.

[FightingTheRight]

How many ARMs due to reset in the next couple of years Alan?

How much money left to borrow to cover the cost of the War Alan?

Add to that the question of how high the price per barrel that oil will go too.


Someone get the hook and drag this sad old burlesque comic off the stage!

[VivaZapata]

Greenspan has a vested interest in this kind of wishful thinking, but nothing has really changed: the federal reserve loosened credit and loose credit is what got us into this mess to begin with. The problem will get a short lived band aid type fix and then come roaring back. Even as his great prophecy was being mouthed gold started to rise again.

[Mark2100]

Didn't I just read a HuffPo article that an unexpected surge in credit card charges in March by Americans is due to the fact the average person is running out of money. How is this credit crisis anywhere close to being over.
For anyone who even thinks this man has credibility I would recommend reading Ravi Batra's book Greenspan's Fraud: How Two Decades of His Policies Have Undermined the Global Economy.

[Dap]

Happy Third (3rd) Birthday Huffington Post ! Thanks

It's a Celebration.

[jimmyaj]

Well, hot shit, let's hope so. After fucking the American taxpayer to bail out Wall Street....

[djthedj]

Taxpayers aren't bailing out Wall street, China is. That, and just good old fashioned printing up billions of unbacked dollars.

[stimpy]

The economy's fine, my ass. By any indicator any of us real people us, the view from the trenches is not good.

Listen to Michael Greenberger, interviewed on NPR's Fresh Air, explain the sub prime mortgage mess, and how no one really knows how bad it could get. And it could get really bad. Hair-raising.
http://www.npr.org/templates/story/story.php?storyId=89338743

[Betrayedcitizen]

This lying ---is the cause of our corruption starting under Reagan up to the Bernacke continuation.

This man caused the credit bubble...this man created the real estate bubble and allowed his Wall Street cronies to rip apart all laws of lendind and swindled millions thru their creation of Hedge Funds ...Funds that have defaulted...and current Funds that are actually worthless........But he has the gall to blame other people...the gall to see our Treasury looted to the current bailout sb total of 330 billion.

(Reagan sais 'No more taxes'.....when the Treasury needed money..he went to Greenspan for help.Help he gave...they took the money out of Social Security.......What a sick Jew....No sins!

[loki]

Someone do some arm twisting or pay off here? Didnt Greenspan in the recent past say how this was going to be long term and that we were not close to the worst yet?

[KillTheMessenger]

At some point every old man turns into an old fool. The less foolish ones know when they pass that point and then can make fun of themselves.

[WorkingClass]

I'm starting to think he believes his own bull sh*t. If so, he has always been a fool.

[eugenegerard]

Bullshit, It hasn't even gotten interesting yet. This man is paid to lie.

[cae]

I for one have no desire to hear what Alan Greenspan has to say regarding economic/financial issues. I remember when GWB proposed lowering income taxes on very high incomes and Greenspan basically said it would be OK. It helped the proposal get enough votes to pass (at least it didn't hurt).

Mr. Greenspan, if you want to give some helpful tips on gardening or relate your favorite restaurants, I might take a look. But I for one have no desire to hear any of your thoughts regarding the economy. Overrated! (from what I can tell)

[KCFreedom]

Who listens to this guy anymore? Kinda like believing James Carville about anything. About as much credibility.

[raoulhubris]

What this economy needs is for an "icon" like Greenspaz to say the credit crisis is almost over. Just drink your koolaid and shut up.

[Rule Of Law]

Who Pays Big Al's check these days? And doesn't little Bennie B. get bent when Big Al get all the press? Strange.

[doneflyin]

This boob has about as much cred as Colin "I see WMDs" Powell.

Retire to Galt Valley. Re-read Atlas Shrugged for the 56th time and The Virtue of Selfishness for the 33rd time.

Please, just STFU and go away.

[Indubio]

Greenspan is despicable. The man and his supporters are desperate to avoid the catastrophic world wide economic melt down that has already started. Since nothing else seems to be having much of an effect on the shit hitting the fan why not try wishful thinking? Hopefully, Greenspan will live long enough to see the crackpot theories of his mentor Milton Friedman land on the ask heap of history. We can only hope that when fingers get pointed they are pointed in Greenspan's direction.

[TheShadow]

Consider the source of this story. Greenspan was one of the principal architects of the mess we are in. But don't worry: His buddies will bail out every well connected banker, and financial institution with the taxpayers monies via actions taken by this unelected body of bankers who have complete say over our treasury known as "The Federal Reserve".

Now you can that to the bank!