User 158320

Greenspan, Bailouts and Fed Policy

Baloney,

Greenspan warned of the perils so often he was like a broken record, a softspoken monotone broken record that nobody listened to, its not his fault 99.4% of the population didn't listen to his state of the economy speeches and fell asleep before he made his points or heed his warnings, he warned over and over and over for years, its not his fault the people and Congress followed Paris Hilton more closely than Alan Greenspan's numerous DIRE WARNINGS.

You can buy his speeches, take a red bull, tough it out listen & analyze the speech maybe even more than once-he definitely warned and advised of GSE reform over and over and over.

For the folks looking for a more "proactive" fed chief maybe they should have appointed MrT as fed chair, Greenspan aint gonna scream or bitch slap anybody, other than that I'd say he gave FAIR WARNING of the housing problem YEARS IN ADVANCE.

Greenspan's Latest: Oil Boom Will Likely 'Go on Forever'

"Unlike the stock market where he had no direct control, Fed Chairman Greenspan had ultimate control of where the Fed Funds rate was headed"

That's flat out untrue, the chairman doesn't have the authority to dictate interest rates and even if the whole body of federal reserve members voted for an action the market responds accordingly checking whatever move they make, the federal reserve only mitigates interest rates to reflect economic conditions, the market sets interest rates, not government.

If the fed could manipulate interest rates by simply changing them without market counter actions we'd never have a recession and have a continual boom forever, unfortunately that's not the case.