Greenspan Denies Blame for Crisis, Admits 'flaw'

[allgoo19]

Nearly 3 yrs. had passed.

The market is still dropping.

[sniped101]

@allgoo19 it wasnt greenspans policies. it was because WE bailed them out AND the banks knew it.

[Givarius]

His real name is Alan Grünspan and is of Jewish/Hungarian decedent.

[PenneArbonara]

what a piece of shit

[sniped101]

@PenneArbonara its not his fault. its because we bailed the banks out and the banks knew we would when shit hit the fan.

[gwangjuboy1]

He told successive governments that government had no business in regulating lending and that self interest in a free market context would be sufficient. He got it massively wrong, but this was not sophisticated economic theory; it is commonsense that you don't lend money to people who can't pay it back. This man gets off very lightly indeed, along with all the bankers who raked in massive bonuses before 2007. America wake up and unite! These people have destroyed your great nation.

[Deciblaster]

@gwangjuboy1 Your exactly right....They have sucked us dry and then came into the room full of people waving heir fists and said....Sorry? No refunds..... lol WTF

[gwangjuboy1]

This man should be indicted. Scratch beneath the euphemistic language and there is a tacit acknowedgement that his economic philosophy, which lead to a massive loosening of credit, is responsible for the economic destruction of much of the west. He was hugely infuential in shaping US policy for almost two decades, a policy which was more comfortable to politicians than dealing with the real and continuous fall in wages since the early 70s.

[scarletlake77]

and fuck chris dodd too. SUPERMAX!

[WesSeid]

I like the end of this video. "...Greenspan says the crisis will be over when housing prices stabilize, but he says that won't happen for many months." When is this video from? 2008!

I don't know why the media gives any consideration to these clowns that have been wrong time after time after time. Tell me again how there's no housing problem, Ben! Tell me again how derivatives leveraged 100:1 aren't any big deal, Alan! How do these clowns keep their jobs!?

[telewebservices]

Fuck you greenspan!

Gee what a name he got.

[DarkBrute]

@telewebservices .... compared to "Waxman" ???

[fescolfaro]

freaking weasel, greatest trojan horse of all time...

made rules for his banking buddies, not for society. alas, un-made rules...

Does anybody know the link to the video in which he testifies to congress and says "I believe in the goodwill of wall street executives"? I watched here once, but lost it, and want to write an article about it now...

Thanks in advance!

[fahddoggz]

This Waxman guy REALLLLLLY NEEDS A NOSE JOB AND SOME OTHER PLASTIC SURGERY.

[TheUsualSuspect77]

@fahddoggz he looks like a rat...... lol.......

[trippintonk]

Alan Greenspan is an attention-sucking moron, who knew the truth (read: incredibly unstable and dangerous) about his idiot "financial modeling" and other items like OTC derivatives well before this financial collapse occurred. (1996 anyone?) He was warned off of these Ayn Rand inspired fantasy worlds, but had so much power that he eviscerated the group warning him, and marched right ahead. Please see PBS' "The Warning," also

hbseguras list is excellent.

[halflifeproductionz]

he won a presidential medal of freedom. LOL

what a fucked up government.

[kochav125]

the market is trying to correct itself now, but the administration isn't letting it!

[Fuel1]

It's not incompetance, it's an agenda.

Woken up yet?  Didn't think so.

[sysopkc]

I dont know why everyone is so suprised, the Federal reserve chairman before him was just as imcompentent. Hell hes WRONG in this this clip!!! Government interference (HIM!) was one of the key reasons the housing market collapsed, manipulation of rates.

[MrTabby5000]

Deregulation wall street was the reason the criminals started their crime spree(the sheriff was taken out of wall street),especially those jewish bankers like madoff.

The preditory sub-prime loans was the main cause,not interest rates as much.

[sysopkc]

Oh i agree with that totally its a huge piece of the pie, the Govt. dismantled every safeguard put in place to prevent this point by point over the years. And the regulators who were left were toothless, or political appointees who were as dumb as rocks! And since you left the jew comment I will say that another problem are the "people" that have been allowed to participate in our system. These are not "our" people. Alot of these people arent Americans or are anti-American in my opinion

[praunch]

Yes, of course it must have been those jewish bankers. The gentile bankers just don't have the smarts. You sir, are a moron.

[MrTabby5000]

There are no gentile bankers they are all selfish jews.Did you know the jews sold slaves?Yes they did.Jews are nothing but trouble

[hbsegura]

Search the following terms

Heist-The movie

House of Cards by William Cohan

Noam Chomsky on the Global Economic Crisis Democracy Now Interview

The Battle for Wall Street by Richard Goldberg

William K Black interview by Alex Jones

William K Black Bill Moyers Interview

Meltdown Thomas Woods

Simon Johnson Bill Moyers Interview

[pissysteve]

watch?v=vitSBqhWjfc

[uturniaphobic]

I heard someone woke him from a nap to tell him sub-prime loans had risen to 20 percent.

literally asleep at the switch

Sure greenspan gave out the easy credit, but who abused it and who did not watch the abusers? No one watched them because this was likely a plan for some to gather a lot of money quickly, before the lights went on...a plan that did not fail.

[boosuff]

Federal Reserve is a self serving institution that services the politically connected and elite. They are a criminal organization and need to be ended. Wake up Americans, your future depends on it.

[paullakes]

economy, never, was, and will never be a fixed science, beacause it ivolves human beings, and we are not robots, we always change. That's too bad that Alan Greenspan just now understood that fact.

[Civsuccess2]

Greenspan is for free-market. Yet he doesn't follow Milton Friedman's constant 3% interest rate policy. He chose to interfere with the interest rate. That is a socialist central planning. I have only pity for him. He destroyed the economy in the name of "free market" yet he was practicing socialism. He was playing God when he is not. Now, he must be crying in the mighty invisible hands of his God and repenting on what he had done.

[Nivea57]

Probably the most monumental quote of our era.

Incredible!!!

Imvho.

[davidperi]

That´s right it was de-regulation that was set in motion for others to push and try to go beyond the bounds of the law to make more and more money...whether unconsciousily greedy or not. Like the foundation of Marist-Leninist Communism that was rocked and crumbled; now, the Capitalist foundation is

being shocked through and through

[baronderothchild]

if he admits that his reasoning is flawed...why the fuck are we still listening to him??

[DevaRupa]

Duh!

[ChicagoJoe57]

Well, Greenspan is the one that has been pushing Bush's globalism policies for years. He has pushed for increased tech immigration visas stating that it would create new American jobs. Now Greenspan admits that economics isn't an EXACT SCIENCE.

For those of you who have studied economics under Phil Gramm or Alan Greenspan, please send me your certificates so that I can file them where they belong - in the trash.

[SZSearcher]

I watched this today, and those responsible will just shift the blame to others anyway, there is no one person who will take all the blame for the downfall of the US economy. I feel things are going to get much, much worse.

"Absolute power corrupting absolutely"

[bobzilla211]

hahahaha can you imagine if they blamed the whole thing on him, one dude. thats hilarious.

[ihaveaverybadcold]

one day closer to judgement....we should repent