http://hotair.com/archives/2011/03/14/g … -recovery/
Sure enough and government regulation is what caused our problems to begin with! Anyone that thinks Obama can fix it all with even more government is a fool!
Lady, Greenspan is the problem, and when he said in Feb 2004 that people could get a "better deal" with an adjustable mortgage, he exposed himself.
The ponzi housing bubble was caused by the central bank cartel, of which, Greenspan was a prominent player. Our Fed owes allegiance to big money that is not necessarily located in our country. In other words, the Fed is above Obama and our sovereign nation.
Do you understand now or has Greenspan brainwashed you too?
It really amazes me how you and others on the left absolve the government of any blame as if there was NO regulation at all prior to the meltdown, no government policy initiatives what so ever!! And you have the nerve to say I'm brainwashed??? Lol!!
I don't absolve government of blame, however, both parties wallow at the feet of the Fed. If you don't get that you actually divert attention off of the main problem and cause of our financial misery.
There was no regulation prior to the meltdown. Only the CRA banks, ACORN was regulated and they only made up 24 percent of the subprime. The shadow banking system made up 76 percent of the subprime loans.
And the CRA did ZERO loans that were alt a, prime option arm, etc.
So yes, you remain brainwashed and very naive.
Even Cavuto admitted that ACORN was a small player. But Faux had a design, to brainwash you and it worked.
If you want to understand banking you need to read the stuff written by Chris Whalen or you are wasting your time.
Greenspan should be in jail and is no better than a Bolshevik propagandist.
Uh... glass stegal repeal by Clinton? The SEC? Hello! Fannie and Freddie themselves!
No one is not blaming Clinton. In fact I have an article on BI blaming him, saying he had Quigley as his professor, who predicted the New Financial Order way back in the 60's. Clinton was without excuse, but the driving force for the repeal of Glass Steagall was Phil Gramm, a Republican.
Lady didn't say Greenspan was the problem. Government meddling in the private sector to push their social justice agenda caused the crisis and they continue with the same stupid impossible dream agenda making what was a hole into a black hole.
Greenspan called it right. I hope it does some good.
I am saying Greenspan was and is the problem. He allowed ponzi housing. He is an economist. He knew that getting people to take out massive amounts of easy money loans would cause prices to artificially rise. He knew better.
But he did it to create phony money and phony wealth. It made Bush look good, it paid for the oil wars. In fact, that same Greenspan told Bush to secure the oil ministry in Iraq first thing. It is in his book!
The same guy who lusted for petrodollars also told people to take out adjustable mortgages. He lied when he said they could get a better deal. He lied and he is, and remains, a liar.
Greenspan blaming the government is the same as a CEO blaming middle management. This was/is Greenspan's ship, until you realize Greenspan (and his ilk) are the kings while the government are the rooks the masses will continue to be dumb, uninformed, and hopeless.
No, that is not what the article says.
The government is not what caused our problems to begin with.
Comparisons of the current recession/recovery can really only be made with the Great Depression. That chart is worthless.
Really? You must have skipped over this part:
"Furthermore, the mainspring of the 2008 meltdown wasn’t a lack of regulation on Wall Street, but massive government interventions in the housing market that Fannie Mae and Freddie Mac then passed along as securities."
Geez, you don't think its the enormous overhanging debt thats causing a lack of a recovery?
Just for perspective;
- $2.381 Trillion: Revenue
- $3.552 Trillion: Budget
- $1.171 Trillion: Deficit
- $14.078 Trillion: Debt
- $113 Trillion: Unfunded Liabilities (Social Security, Medicare, Medicaid)
- $1 Trillion: Consumer Credit Card debt
- $1 Trillion: Student Loan Debt
Still think deficits don't matter ala Dick Cheney? Lets see the U.S. "grow" its way out of this one.
We aren't going to grow out of this one, we're going to inflate our way out!
http://www.huffingtonpost.com/sheldon-f … 77483.html
Obama's idiot social justice agenda policies are expanding that debt.
That means he is borrowing MORE money, monetizing the debt my printing MORE money. This administration if making up money and buying made up financial products with the made up money. It's a big fat Ponzi scheme.
And REAL WORLD BUSINESS doesn't like it.
Greenspan called it.
Greenspan wanted it. But, no one is willing to cut the military which needs to be cut massively. You think the Republicans will cut anything that doesn't have to do with poor people? Not a chance.
The democrats cut food stamps to keep union teachers employed. They also cut medicare to give people insurance that could afford to buy it if they wanted to.
Greenspan should be arrested for screwing the whole world over.
He is a great fan of Ayan Rand.
Oddly enough, so is Paul Ryan.
Odder still, there is a man named John Todd, who claims to have been a part of the Illuminati--you can google him...
Anyway, he said that Atlas Shrugged is used as a blueprint for the New World Order.
Magine that....and here we have Paul Ryan, Alan Greenspan.....wonder who else?
Funny, all these little things keep fitting together.
But wait a minute!! Weren't you all just saying "I told you so" when Egypt was erupting?
You all said--"See? Bush's policy of spreading Democracy is working!"
And it aint cheap either! All the Iraqi's have healthcare, courtesy of USA.
We had to rebuild all that we blew up didn't
we? Haliburton and KRB overcharge up the nose, don't they? Xe and all those private war machines are hella lot more x-pensive than the US military.
But I see how it is....when it's for the people of the United States, you don't like it!
You don't want our gvt to help us at home.....because a Repub is not in charge.
Bush's PNAC policies are expanding the debt...and it's NOT for America!
AND----how can we get out? 2014 out of Afghanistan Obama is pushing for. That's why we never should have gone in. Once you're in, it's the devil to get out!
"Who's 'Greebspan'????" Think he is the architect of "Disaster Capitalism". The Chicago school of Economics.
Greenspan is one of the idiots who got us into the recession. He's hardly the one to tell us how to get out.
Really? Didn't this administration hire all the bankers from Goldman to get us out of the mess Greenspan might well be someone we should be listening to!
Greenspan is a sinister jackass. "Hey, printing money out of thin air = good!"
The man is clearly an idiot.
Really? Geithner worked for Paulson former CEO of Goldman and Summers was instrumental in deregulating derivitives and removing glass stegal. He also worked with Greenspan on the Enron crisis. He also was tied to Andrei Shleifer who while working on Russian privatization bought stock. By the way maybe you haven't heard of QE2 where Bernacke is printing 4 billion dollars a day?
Neither Geithner nor Summers ever worked for Goldman. Summers came from Harvard and before that was Clinton's Treasury Secretary. Geithner was president of the Federal Reserve Bank of New York. He never worked for Goldman Sachs. Why don't you check your facts before posting your usual unfounded opinions as if they were facts?
Why don't you read before you comment? I said Geithner worked for Paulson who was CEO of Goldman... he also handled the Leeman Bros disolution. I never said Summers worked for Goldman... he did work with Greenspan and was a member of the world bank... if you think there aren't ties between these people and the big bankers you're dillusional!
There is no question that there are ties among Geithner, Summers, Paulson, Rubin and others. But I don't believe Geithner ever worked for Paulson as you claimed. He worked in the Treasury Department under Rubin and Summers in the Clinton administration and then was President of the Federal Reserve Bank of New York. He never worked for Goldman or Paulson. In his role at the Fed Bank of NY he worked WITH Paulson, Bush's Treasury Secretary, on various measures to stem the financial crisis which began in the Bush administration.
Hey! We agree on something! And it pertains to economics!! WOW!!
I'm sure we agree for differing reasons, but ... wow!
http://www.freep.com/article/20110316/B … RONTPAGE|s
"Taxpayers will not recover all of the $700 billion spent rescuing a variety of firms, including General Motors, Chrysler, GMAC, dozens of banks and AIG, but the loss will be significantly smaller than expected, the Congressional Oversight Panel said today in its final report.
"The Congressional Budget Office today estimates that the TARP will cost taxpayers $25 billion -- an enormous sum, but vastly less than the $356 billion that CBO initially estimated," the oversight panel stated."
Is this what you're referring to? He never worked FOR Paulson. When the following occurred he was President of the NY Federal Reserve Bank.
"In the same year, he played a supporting role to Henry Paulson, former CEO of Goldman Sachs, in the decision to bail out AIG just two days after deciding not to rescue Lehman Brothers from bankruptcy."
He never worked FOR Paulson. When the following occurred he was President of the NY Federal Reserve Bank. He supported Paulson and worked WITH him on bailing out AIG and other efforts in 2008 to deal with the meltdown.
I'm glad to see you've discovered Wikipedia. Now you just need to read it more carefully.
GREENSPAN IS MORE OR LESS CULPABLE FOR THE SUB-PRIME MESS THAT GOT US HERE, SO SHIFTING THE BLAME TO SOME COMPLEATLY NON-BELIEVEABLE CULPRIT IS TYPICAL BEHAVIOR OF THOSE INSTALLED BY THE RIGHT WING.
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