Greenspans Policies is the reason why America is in Financial crisis.

Discussion in 'Economy' started by 52ndStreet, Sep 15, 2008.

  1. 52ndStreet
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    52ndStreet VIP Member

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    I must let it be known to everyone, that the current economic catastrophe that
    America now finds itself in, is a direct result of years of incompetent economic
    policies of former Federal Reserve Chairman Allan Greenspan. His continued advice over many years, that Americans find equity in their homes, has caused
    a major Economic catastrophe, that America has not seen, since the depression
    of 1929.

    I do not know why News media networks still engage this incompetent Economist, and have him on their shows, as a guest speaker?.

    It is under the guidence of Allan Greenspan, that the American Economy, has
    slid into the current Economic stagnation that we currently find ourselves.
    It was his policies, over the last 15 to 20 years, that put the American economy
    in the state it now finds itself in.

    The man spoke in riddles ,and euphemisms, whenever he was called to testify in front of the Governmental Economic committees, never gave the Government officials a straight answer to their questions, and exercised unsound policies and judgment, during his reign as Federal Reserve Chairman.
     
    Last edited: Sep 15, 2008
  2. Paulie
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    Paulie Platinum Member

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    This could stand to be written more coherently, but the overall message is true.

    He's certainly not the ONLY one to blame, but he's definitely contributed heavily to whatever horrible happens to this country in the coming future.
     
  3. Toro
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    Toro Diamond Member

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    Greenspan bears a lot of responsibility for this mess.
     
  4. indago
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    indago VIP Member

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    [​IMG] ... [​IMG]

    MERRILL LYNCH BULL



    -
     
    Last edited: Sep 16, 2008
  5. Shogun
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    Shogun Free: Mudholes Stomped

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    B-b-b-but.. BERN80! THESE ARE THE GLORY DAYS OF CAPITALISM! It's just a market FLUXUATION that is natural and acknowledged!


    :lol:
     
  6. Bern80
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    Bern80 Gold Member

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    If you want to keep putting words in my mouth fine, it only make you look stupid, not me. I don't believe I've ever said anything about these glory days of capitlism. In fact it seems you are the one that should have their foot in your mouth since you are blaming this on a failure of economic system when apparently someone has come up with at least one alternative explanation.
     
  7. sealybobo
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    sealybobo Diamond Member

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    I know your post is crap because Greenspan warned the GOP not to do a lot of the things they did, and they did them anyways. Bankrupting us in Iraq is one of them.

    He only works for the Federal Reserve, he isn't an owner. He does what the owners tell him to do. He's another Scott McClellen.

    Now that he is retired, he's trying to tell you what's going on but you won't listen. And they are starting to trash him I see. Trash the guys name if he speaks out.
     
  8. Bern80
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    Bern80 Gold Member

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    Nothing here really explains what he might have done to cause this. "Find equity in their homes"? I don't know what you're referring to there, but you gain equity in your home by reducing your mortgage debt. So explain how people paying down their mortgages caused this problem.

    What unsound judegement and policies are you referring to? Please be specific.
     
  9. Chris
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    Chris Gold Member

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    Republican deregulation caused the Savings and Loan crisis in the 1980's, and caused the mortgage crisis we have now. The fat cats on Wall Street walk away with the money, and who gets stuck with the bill?

    The American taxpayer.

    It's the Republican way.
     
  10. Bern80
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    Bern80 Gold Member

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    Possibly, So if government had not deregulated the mortgage industry what safeties would have been in place? Did the forbid lenders from supplying loans if some arbitrary level or risk was exceeded?

    Because that is what ultimately happened. A combination of buyers taking on risky loans and lenders actually supplying them. So it would seem that what you're saying is that prior to the deregulation there would have been some policy in place to prevent this. Do you know if that's true or not?

    Regardless, maybe we really can't have that much of a free market becuase seeminlgy a lot people aren't prepared or are just plain too stupid to understand the risks.
     
    Last edited: Sep 16, 2008

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