Greenspan - I didn't know.

[Brian4Liberty]

Here comes Greenspan, sounding just like so many politicians before him. Why does this remind me of Hurricane Katrina, when "Brownie" said he didn't know anything about the Superdome for days...

----

"Greenspan said he didn't recognize until very late in 2005 that the dubious lending practices - which gave homebuyers loans with low adjustable rates that could jump to precipitous levels - were serious enough to damage the economy.

"While I was aware a lot of these practices were going on, I had no notion of how significant they had become until very late," he said. "

http://www.nypost.com/seven/09142007/business/greenspan__its_not_my_fault.htm

[Thunderbolt]

...

[Brian4Liberty]

Greenspan was the head of the biggest cartel in American history. Why care what he says? He is a crook.

Don't have to care, but there's a lot to learn from him...good, bad or otherwise...

[hells_unicorn]

This is some sort of extremely pathetic attempt at atoning for his own guilt of abandoning his own principles no doubt. I just finished re-reading his contribution to Ayn Rand's "Capitalism; The Unknown Ideal" and it gives me a sense of disgust to think of how this man literally sold his soul. He is not only a crook, he is the modern embodiment of Judas Iscariot.

[Duckman]

This is some sort of extremely pathetic attempt at atoning for his own guilt of abandoning his own principles no doubt. I just finished re-reading his contribution to Ayn Rand's "Capitalism; The Unknown Ideal" and it gives me a sense of disgust to think of how this man literally sold his soul. He is not only a crook, he is the modern embodiment of Judas Iscariot.

Yeah, Greenspan used to be a personal friend of Ayn Rand.

Greenspan's a smart guy... and a few years ago people thought he had personally beaten the economic cycle. Remember when McCain said (think it was during the 2000 election) that he would keep Greenspan in office if elected, even if he died and had to be propped up like in "Weekend at Bernie's"?

But the fact that even his policies had a grain of undoing in them just goes to show that you can't manipulate the markets without sowing the seeds of your own destruction.

[Slugg]

HIs book comes out today. Aparanty he says the Republicans have abandonded their small government roots and deserved to lose last year. He said he told Bush he was spending too much money, and he claims to be a libritarian. I want to read his book now.

[Hamburglar]

Greenspan was the head of the biggest cartel in American history. Why care what he says? He is a crook.

Figure head* of the largest cartel.

[JosephTheLibertarian]

HIs book comes out today. Aparanty he says the Republicans have abandonded their small government roots and deserved to lose last year. He said he told Bush he was spending too much money, and he claims to be a libritarian. I want to read his book now.

libertarian? LOL. A libertarian would eliminate his post!

[Delaware]

Greenspan is only a pawn of the International Bankers, he's only did what he was told to do.

[Mitt Romneys sideburns]

I wonder what kind of deal Greenspan got for his soul? I bet he tricked Satan into some type of fractional reserve banking scheme. He peddled out his soul to multiple devils and demons, and they are going to be pretty mad when collection time comes in.

[Delaware]

I wonder what kind of deal Greenspan got for his soul? I bet he tricked Satan into some type of fractional reserve banking scheme. He peddled out his soul to multiple devils and demons, and they are going to be pretty mad when collection time comes in.

Lol i cracked up at that.

[slantedview]

Don't have to care, but there's a lot to learn from him...good, bad or otherwise...

Lowering interest rates to 1% then encouraging people to take out adjustable rate loans to buy homes they can barely afford is more than just bad, it's horrible, stupid, mean, etc.

[Mitt Romneys sideburns]

Lowering interest rates to 1% then encouraging people to take out adjustable rate loans to buy homes they can barely afford is more than just bad, it's horrible, stupid, mean, etc.

or to quote Colbert

"A bunch of billionaires gave mortgages to millions of people who couldn't afford them, and somehow the whole deal went sour."

[d'anconia]

Lowering interest rates to 1% then encouraging people to take out adjustable rate loans to buy homes they can barely afford is more than just bad, it's horrible, stupid, mean, etc.

Agreed, it was downright cruel.

And I'm getting sick of this "oh there's nothing he could do, he had to take orders" or whatever kind of sorry ass excuses you guys think you can give Greenspan for this type of stuff. Yes there is something he could do... NOT TAKE THE JOB!

[J4ck]

Funny...read the old articles of Greenspan..before he turned to the dark side..he was an advocate of the goldstandard. Too bad he sold his soul to the devil.

[lucius]

...fractional reserve banking scheme...

"The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented. Banking was conceived in inequity and born in sin... Bankers own the earth. Take it away from them but leave them the power to create money, and, with a flick of a pen, they will create enough money to buy it back again... Take this great power away from them, or if you want to continue to be the slaves of bankers and pay the cost of your own slavery, then let bankers continue to create money and control credit." - Sir Joseph Stamp, former president of the Bank of England.