Greenspan explains the Credit Crisis Tsunami

[Slayerfan84]

Sub-prime = crooks & idiots!

[orangedac]

the flaw in his theory.....

money printed up out of thin air is fraud

[bpknapp63]

greenspan is a fraud and a lier. That pathetic piece of crap knew exactly what was going on. As Michael Lewis clearly outlines in his book, "The Big Short," greenspan "either willfully or ignorantly aided and abetted" the massive boom and ensuing housing bust of '08.

I could say more but don't have the space. What is most important to say is:

To alan greenspan, robert rubin, and sandy weil: FUCK YOU!

[detroitmetro101]

this guy and bush are responcible for all the speculative growth we experienced over the years....and over lending

[MyFreeCredit]

Entertaining to watch. Thanks for sharing.

[1dgg9h4dr6ppp8]

His answer was perfect. You have to regulate the single case of hybrid securities brokering. The investment banks or brokers need to be required to take a stake in the securities; that way there is an incentive to price these securities properly from the beginning.

[dbullet]

That will not work. The banks would eventually not be able to afford to underwrite and we will no longer have an intermediary.

[machintruc313]

Thank you for explaining what you and your friends have manufactured, Mr Greenspan.

[aristotledixit]

The fundamental flaw in the system: Money does not measure added value (as it should) but only greed and usury, because we are allowing totally unproductive people (those who are making money outside the REAL economy) to create value out of nothing. Welcome (back) to the real world,Doctor Greenspan. The real role of money is solving the double coincidence of wants problem, not enriching gamblers who are not WORKING

[xerife69]

SUBCRIME indeed...

add to that the naked short selling scheme, dark pooling by hedge funds, CEO and top management encreased power over shareholders, and the SEC, and you get UBERCRIME!!!

time to take capitalism back from the hands of greedy politicians and corporate thugs...

Adam Smith must be turning in his grave...

[CreatorChannel]

"subCrime"

[crazypdj]

You caught this.

[RottingBoard]

Greenspan did not understand the greed of the CEOs.

[Militarianet]

I agree - why lent SO much to people who couldn't pay the bills ???

[siddhaam]

This is too much. The real tsunami was the flood of cheap money that Greenspan and the Fed unleashed on America and the world. This man was a major player in creating the present global crisis.