Greenspan: This Is The Worst Economy I've Ever Seen 2008

[kriskats19]

The economy will appear to get better when the fed creates a new bubble. Just keep your eye out for it so that you don't get caught up in it.

[TaylorJ614]

Reagan gave an IOU to Social Security which was never repayed & spent money we didn't have giving a false sense of economy to all Americans. Greenspans lifetime philosophy of deregulation (games with no refs) that he encouraged was completely wrong to say the least. Both of these supposed great men in time will go down as terrible leaders.

[mow1717]

jewish sub prime crisis,or republican sub prime crisis.same thing.

[TheSaccasa]

Once in a century event, look at who was in control of government sponsored Fannie Mae and Acorn. Answer is democrats. I can only wish the worst for them and they should be in a dark place with bars, never the less they will pay in the end for humanity crimes of the world. Who would ever want to be considered a democrat supporter after all this ?

[J1NX1337]

"Well, first of all the Federal Reserve is an independent agency, and that means basically that there is no other agency of government which can overrule actions that we take" - Alan Greenspan

[13mnunez1]

Let's be fair here. Is incontrevertible Greenspan's part of the economic crisis with low interest rate and letting Wall St. bankers loose. However, Greenspan did prevent a recession in 1994-5, with his higlhy criticized measure of premature high interest rates, which ultimatley led to help Clinton's deficit plan.

Though I know the response that what matters is the end result, but considering the difficulty of being Fed Chairman, I would say Greenspans decision were mediocre, not terrible.

[KevinSheerin]

@13mnunez1 he didn't prevent a damn thing he kicked the can down the road and made a minor adjustment a full blown economic global systemic depression it is criminal that the fed and Ecb have the power to issue more of a medium of exchange at will and if i was to try and do the same thing i would be thrown in jail!

[KevinSheerin]

@13mnunez1 Also why should the fed set the price of money "High or low interest rates" what makes them think they know more then the market does about how much savings should be yielding for the individual!

[manmanguy]

It's all you and and the Fed's fault Greenspan. We would try you for treason if only you were truly part of the US govt'.

[DrWilliamLPierce]

Greenspan! You and your fellow tribesmen have ruin the US economy!!! SHAME ON YOU!

[casienwhey]

Greenspan helped cause the very problem he complains about.

[Efficacious24]

Alan Greenspan (former Federal Reserve Chairman) now works for John Paulson's fund. Guess what John Paulson's fund's BIGGEST position is right now? GOLD. . Don't say you weren't told. Protect your families wealth. Visit: goldsave.co/

[RoySC1]

The peopel are being robbed by our Congress because they have the Constitutional power to do so. Read the second power of Congress in Article 1, Section 8: "to borrow money on the credit of the United States". It has been abused for to many years, and has allowed the rich to partner up with the banking system to exploit the ignorance of the average workers of this country. It must be abolished by amendment.

[krzycho44]

The economy is dead because of the crooks like Greenspan and his Jewish cronies, e.g. Rubin and Madoff... Well, there is one positive aspect of this tragic situation: if the US goes down the parasitic little shitty  "country" will boil in hell, in its own shit...

[xelink]

ethnicity and religion have nothing to do with those people being crooks. Crooks are crooks. people are people.

As it stands the federal reserve has failed the american people and it needs a drastic overhaul.

[PepsiPope]

@xelink A drastic overhaul as in totally removing this fraudulent enterprise?

[xelink]

@PepsiPope I wouldn't necessarily say entirely removing it would be 100% necessary.

but it would probably be easier starting from scratch than to try to fix what we currently have.

[SurviveWorldWarIII]

Yes you are correct! Good to see some intelligent life out there. This tribe has been run out of 109 European city/states throughout history for the same criminal financial endeavors.

[sudofan]

its laughable to put the current crisis on the clinton administration when they had the last balanced budget. maybe consider the 8 years of bush deficit running and the costs of 2 simultaneous wars.typical republican answer to any problem=blame clinton

[back2thefutre]

oh I cant find a job. Oh Im an asshole american. somebody help me, better yet do it for me, boo hoo

[TubularAlex]

nobody likes your future fuck face.

[back2thefutre]

ugghhhhh. fuck you i guess.

[ChrisF116]

The prices wont stabilize until you let them deflate and stop trying to artificially keep them higher through printing more money and cutting rates. Let the market take over and it will fix itself. Or destroy the dollar. I guess I have to tell that to Bernacke.

[ha39377w]

I think he is a hypocrite, and that he purposefully gets us to the miss that we are in. He is no thing but a servant of the elite and the fat PIGS. Hamdan Alqudah

[retrop2]

Petition the Federal Reserve. Senator Ron Paul proposed a bill to congress last year. H.R. 2755, educate your selves, we are being fuckin robbed! The Federal Reserve is manipulating this economy so that we have to move to an international currency. This bill has been in the House Committee of Financial Services for over a year. Write your congressman! Lets get it done before its too late.

[anasto1971]

Alan Greenspan - you where driving the wheel in 2002/03 when you created artificially low interest rates and gave wall street w*nkers a platform to loot and steal from an unsuspecting public. Shame on you.

[SpudPorter]

Greenspan is with the Rothschilds, Rockefellers, Leheman Brothers and more. He is the chairman of the international bankers who run the show...pple wake the fuck up!

[jbryandaviscom]

You're absolutely right. That's not too far away in the distant future.

[steelw2000]

fuck the federal reserve mafia

[danbuck333]

greenspan and the fed craeted and caused this economic crash, now hes behaving like it has nothing to do with him

[Nuclearcx]

Well Fed helped it in the USA really with pervasive low interest rates but... It's not really their fault, this is a global issue caused by huge increase in mortgage derivatives and speculatives which subsequently caused housing prices to go waay up and created a huge bubble, of which effects the financing institutions around the world are currently experiencing.

It's the economic heist of the century, and if you want to blame someone then there's some big banks that sure didn't help much

[danbuck333]

"It's not really their fault"

ahh yes it is, america is ground zero for this collapse it started in america with cheap credit from the federal reserve and spread around the world

[GoBogi]

Actually, No. It isn't the fault of the Federal Reserve. And to add to that, you also have to remember the extensive fraud that was going on. Had some companies not cooked their books this could have been avoided. Also, Congress did not innact stronger Regulation and Oversight on Fannie and Freddie which could probably have avoided the Credit Crunch. If they had done that, would you still be complaining about AG, he had a very successful carrer as Fed Chief, by the way. Many agree.

[danbuck333]

actually yes, there are much smarter people than us who are admitting that he is responsible for alot of this mess, there are others at fault also, but the man who controls the money controls the problems, many agree

[jbryandaviscom]

He is not solely responsible, but He is a face to cover the crime and should be arrested and condemned to death for treason.

We've got years of evidence to bring against him.

[jbryandaviscom]

You couldn't be more wrong, the Federal Reserve needs to be dismantled, immediately!

WAKE UP AND SMELL THE ROSES!

This guy was the face of a major crime wave that has been robbing Americans for YEARS, Andrew Jackson abolished the same system twice and like a virus it keeps coming back, we need to cut it off at the knees and enact law that makes it illegal to have any such system, and any partakers should be arrested and condemned to death for high treason against the US!

[GoBogi]

Post is old. I doubt anyone cares at the moment, and I doubt any of the mess going on right now has anything to do with the Federal Reserve on the level you are proclaiming. Interest rates were an issue, but the way the Mortgage Markets and its predominant players were handles is also a huge issue that is still beating our financial system down. They hid errors that could have alarmed the government, and they are taking money to stay alive because they have allowed themselve to grow too large

[jbryandaviscom]

Well, I'll agree and disagree with your comments. The majority of our current economic issues can be attributed to the Clinton Administration who used the Community Reinvestment Act to force irrational regulations onto lenders who would otherwise not have made those decisions, don't blame lenders for what they would have been fined for not doing, it makes you look stupid.

And if you honestly believe that the Federal Reserve should take no blame, you're either blind or stupid, take your pick.

[davidmesaaz]

Low interest rates are only half the problem. Fannie and Freddie mae allowed anyone to buy a home because the losses went to government because they were government backed. All profits went to Wall Street...

The financial requirements to have a were few or non-existent. If the rules were tigher it wouldn't matter how low the interest rate was they couldn't get a home loan...

[jbryandaviscom]

You're an idiot, and its' showing.

Let us not forget it was Bill Clinton, obsessed with multiculturalism, that dictated where mortgage lenders could lend, and helped create the market for high-risk sub-prime loans now infecting like a retrovirus the balance sheets of many of Wall Streets most revered institutions.

Those tougher regulations forced lenders into high-risk areas where they had no choice. You are misinformed, and easily led astray by a vastly idiotic mainstream liberal media.

[davidmesaaz]

It was a lack of regulations on Fannie Mae a GSE that caused the crisis... I never said that it was a lack of regulations on private banks.