Greenspan's Fed to Blame for Crisis? - Jeffrey Sachs

[islandmuffin]

Government did it! Executives from Governmental agencies, Fannie and Freddie, BOTH admit that they were pressured by Government to use subprime loans in order to increase home ownership. And you are her saying Greenspan did it!.Yes, but his contribution to the mess was manipulating interest rates to help create the bubble. More than the Fed manipulating interest rates; it was ALWAYS Government incentivizing Fannie Mae and Freddie Mac to take too much risk.

[macdogq]

No regulation causes banks, credit card, corporate, and multinationalist to be greedy. and it causes the governments to socialize.

[ZamatoElite]

That is the most retarded thing I have ever heard. OF COURSE WE ARE GREEDY!!! This is CAPITALISM!!

Capitalism is fueled by greed. Regulation is not going to magically rid the world of greed. It's only going to get the businesses in bed with the Government. (which we don't want at all).

The best solution to our problems is education and consumer responsibility.

[macdogq]

I agree. But don't be upset just cos I said stupid things okay. The big government will not work either.

[ZamatoElite]

LOL, I'm not upset. Don't sweat it.

I'm an anarchist so I hold the belief that ANY government will not work.

[artemizzy]

to answer the title's question - YES

causing the bubble, determining interest rate, printing money out of thin air and controlling the monetary system , not being audited by their government -----power to that institution w/c is controlled by a handful of people with no conscience

[2xtream]

End the FED!!!

[averageworkinggal]

Wrong Central Bank.

The Fed rebates all of its net income back to the US Treasury.

The Chinese hold the bulk of the US National Debt.

You're paying income taxes to pay for the interest on all that national debt owed to China and the People's Bank of China does not rebate any of your taxes to pay them interest back to the US Treasury.

The correct chant is:

"End the People's Bank of China"

"End the People's Bank of China"

"End the People's Bank of China"

[2xtream]

My point was the Fed Reserve is a private corporation that our government is unable to audit. We don't need a Fed. But to your point of China. Hillary just gave China our land in exchange for our National debt to hold as security. As to whom we pay our taxes to that would be the IMF (International Monetary Fund) which is owned by the NWO. That is who you and the rest of the world will pay your carbon taxes to including your interest in our debt from our Fiat money that is worthless.

[averageworkinggal]

You're so ignorant as are all Fed haters since all you're doing is regurgitating conspiracy nonsense not fact.

The Fed is a govt. agency created by federal statute and controlled by 7 POTUS-appointed, Senate-confirmed govt. officials, who are barred by federal statute from any ownership in a bank.

Hillary begged the Chinese to keep buying US Treasury bonds, idiot, so that Obama could keep his Eurosocialist agenda afloat.

The Chinese get just a piece of paper for their money.

[averageworkinggal]

This "audit the Fed" Ron Pall bill is dead and going nowhere even though Ron Pall will keep telling his kook base that the bill is progressing.

The Dems aren't going to waste time with something that accomplishes nothing but harass the Fed.

The Fed's 2008 Balance Sheet was just published as is done by the Fed every year, so the we know what the Fed's balance sheet is.

[averageworkinggal]

If the IMF buys US Treasury Bonds like the Chinese did, then some of the taxes paid to the Treasury that is used to pay interest on the Treasury Bond debt would go to the IMF since they held Treasury Bonds.

But the IMF doens't hold Treasury Bonds.

The Chinese hold the bulk of US Treasury Bonds by far and that is where taxes go - to the real NWO - the Chinese NWO.

Only idiot crackpots like weakstream fall for the absurd fiat money debt delusion.

The Fed rebates all of its net income.

[KhmerD0g]

but our government is creating hyperinflation so the t-bond china is holding will be worthless soon. china is smart enough to see this so they borrow money now against their huge t-bond as collateral and spend the money to buy real asset like crazy. once hyperinflation hit they simply pay off with their t-bond and if it is worthless just blame it to the U.S. we are screwed.

U.S. is in the worst position and it is all our own making by printing and borrowing too much money.

[superdiza]

you are not convincing. your logic, grammar, nick name and troll like behavior is also not helping, your valid yet poor argument.

[Bellantoni]

@2xtream Rather just put someone in there who has at least read something other than Atlas Shrugged.

[ferrozm]

DUH shit head The FED did cause this.

[romo502]

Greenspan and the Fed's don't love you.

[alex3914]

Yes he's to blame....

Audit the Fed with H.R. 1207.

Problem solved.

[ferrozm]

heck yes. tell congress to vote for HR 1207

[alex3914]

I TOLD MY CONGRESSMAN BUT I THINK HE'S AN ELITE...

He's right on board with all of Nancy Peolsi's legislation that says the U.S. will stand by israel if something happens.

But all those people that have honest congressman need to talk to them...the elites have all the money in the world because of the fed.

[nickd4818]

israel has nothing to do with our current predicament. save that bullshit for the alex jones crowd.

[alex3914]

That's not what I'm saying...I'm saying nothing of the sort.

Israel is another sovereign country.

I just don't support intervening on another countries affairs.

We aren't the policeman of the world.

Israel can take care of Israel's own problems.

[Xenthoid]

@alex3914 hmm it would be a step in the right direction.

[CptCrash21]

even Sachs is now critical of the fed's role in the crisis. Starting to sound a little like Schiff. Maybe our economists are starting to develop some common sense. But maybe I'm expecting too much.

[nickd4818]

Jim Rogers said he thinks there wont be a fed in ten years. I only pray he is right.