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U.S. banks need more capital, former Fed chief Alan Greenspan tells a Mumbai conference this...

U.S. banks need more capital, former Fed chief Alan Greenspan tells a Mumbai conference this morning. "I think even in non-euphoria, non-crisis times, we need to have a larger buffer than we currently have."
Comments (8)
  • The_Hammer
    , contributor
    Comments (3993) | Send Message
     
    OK Mr Magoo. You were in a deep sleep when the biggest baddest credit and housing bubble formed and was inflating at a rapid pace.
    Why anyone cares what greenspan says is beyond me. this man nearly singlehandedly destroyed an economy.
    Now this book worm bernanke thinks he will outsmart the markets with his schemes.
    7 Sep 2009, 11:38 AM Reply Like
  • Old Rick
    , contributor
    Comments (503) | Send Message
     
    I'd disagree that King Alan was in a deep sleep. He was wide awake with the monetary throttle in the top speed position. He was in fact the chief (but not the only) enabler of the whole mess. Agree completely with the rest of your post.

     

    On Sep 07 11:38 AM The Hammer wrote:

     

    > OK Mr Magoo. You were in a deep sleep when the biggest baddest credit
    7 Sep 2009, 12:38 PM Reply Like
  • Michael Clark
    , contributor
    Comments (8740) | Send Message
     
    Agree with you both. Greenie was asleep at the wheel...but he was having such a good time. I bet that dream he was having is a beauty.

     

    He's right about the banks needing more money. So, he finally got one right.
    7 Sep 2009, 01:03 PM Reply Like
  • Surfer Steve
    , contributor
    Comments (17) | Send Message
     
    In other news, the sky is blue and water is wet. Thanks, Al.
    7 Sep 2009, 01:20 PM Reply Like
  • Tom Au, CFA
    , contributor
    Comments (6774) | Send Message
     
    T. Boone Pickens told the story of a former company CEO who wished that the new CEO would "do the right things" to get the price of the stock up. "When did you start feeling this way? asked Pickens. "About 30 days after I retired," answered the other.
    7 Sep 2009, 01:42 PM Reply Like
  • Peter Schmotzer
    , contributor
    Comments (73) | Send Message
     
    The banks now know that they can get with away everything since the crash of the last year has demonstrated that the banks can keep the profits and govt (taxpayers) will eat the losses.

     

    The precedent has been set.
    7 Sep 2009, 02:38 PM Reply Like
  • radicall
    , contributor
    Comments (534) | Send Message
     
    On the lighter side of things, the onion is the only paper reporting the real news anymore...

     

    www.theonion.com/conte...
    7 Sep 2009, 06:55 PM Reply Like
  • Teutonic Knight
    , contributor
    Comments (2055) | Send Message
     
    One was knighted ans still doing "consulting business"; the other was renominated and still sits at the pinnacle of our banking system...who says life is fair...
    7 Sep 2009, 07:05 PM Reply Like
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