Alan Greenspan Dead

[Unkotare]

It's very, very sad when I hear someone passed away. Even if it's someone I don't like Unkotare still I would be very sad to hear he passed away.

Me too!

 

[TimFitz]

Irrational exuberance!

 

[sealybobo]

Me too!

You would be sad to hear you passed away or me? LOL.

 

[Unkotare]

You would be sad to hear you passed away or me? LOL.

Very much!

 

[MarcATL]

That sucks, I hope he was right with God.

 

[mudwhistle]

... and conservative institution. Greed knows no and is not limited by policial persuasion.

Greed knows no?

Stop spouting leftist propaganda and try using your own ability to think for yourself.

Most of the old money in the NE is old liberals living in Martha's Vineyard, not conservatives.

Most conservatives are just middle-class workers who show up to work every day. The rich have mostly abandoned the right because the left is constantly giving them kick-backs and tax breaks.

 

[mudwhistle]

Alan Greenspan did not have any highly famous public figures in his specific graduating class at New York University (NYU). However, his most famous schoolmate and musical collaborator was the legendary jazz saxophonist Stan Getz, whom he attended school with at George Washington High School before Greenspan went on to NYU.
After earning his master's and doctorate in economics from NYU, Greenspan founded a highly successful economic consulting firm, Townsend-Greenspan & Co., which gave him a strong reputation on Wall Street and in corporate America.

Alan Greenspan started his career as a professional musician. He was a talented clarinet and saxophone player.

Greenspan studied clarinet and saxophone at the prestigious Juilliard School in New York during the 1940s

Realizing he would never reach the heights of musical geniuses like Getz, he also took on the role of keeping the band's financial books during their downtime. He would often spend his breaks reading economics books.

He dropped out of the traveling band and enrolled at New York University, where he earned his bachelor's and master's degrees in economics, pivoting entirely from the bandstand to high finance.

Alan Greenspan's father was Herbert Greenspan, a stockbroker, market analyst, and economic consultant.

No, Alan Greenspan's father did not help him find work. Greenspan’s parents divorced when he was young, and his father (Herbert Greenspan) abandoned the family. Alan was raised solely by his mother and maternal grandparents in New York.

Alan Greenspan is a swamp creature. That's the only reason he could stomach marrying a leftist journalist.

 

[jacksonlamb]

Greed knows no limits and is not generated by any leftist propaganda.

You know nothing about "money in the NE".

Most MAGA are drunks and meth heads, mostly white, thinking they are superior instead of being the dregs of society.

 

[Invisibleflash]

RIP Alan

Alan Greenspan, economist and longtime head of the Federal Reserve, dies at 100

The influential economist died Monday from complications of Parkinson’s disease, said his wife of 29 years, NBC News correspondent Andrea Mitchell.

www.nbcnews.com

Not sure I loved the man but I'm also not sure if I dislike him either. I mean, I'm doing pretty well. Did he look after the masses or did he favor the rich? Maybe both can be true. He made sure his policies didn't completely screw over the masses but definitely helped the elites.

He was a character.

"Since becoming a central banker, I have learned to mumble with great incoherence. If I seem unduly clear to you, you must have misunderstood what I said."
At least he was honest
Yes, former Federal Reserve Chairman Alan Greenspan famously admitted he made significant mistakes, most notably during the 2008 global financial crisis. He acknowledged that his long-held free-market ideology—which assumed that financial institutions would self-regulate to protect their shareholders and equity—had a fundamental "flaw".

Alan Greenspan, economist and longtime head of the Federal Reserve, dies at 100

The influential economist died Monday from complications of Parkinson’s disease, said his wife of 29 years, NBC News correspondent Andrea Mitchell.

www.nbcnews.com

 

[sparky]

the sun seems warmer...... coffee tastes better.....the air smells sweeter today..... ~S~

 

[g5000]

I wonder how people get purged after they die? Or are they all still on here?

One reason I always disliked Greenspan is I heard he said something like "my job is to keep wages low enough that it maximizes profits but not so low that it causes the masses to revolt.

Greenspan never said that.

What he said was that workers accept low wages in exchange for job security from their employers. And that had nothing to do with Greenspan's job.

Congress assigned a dual mandate to the Federal Reserve. 1) Keep inflation at 2 percent. 2) Keep unemployment as low as possible.

During the Great Recession, Ben Bernanke invented a third mandate from thin air. 3) Keep the stock market robust.

 

[sparky]

Greenspan never said that.

a lot of what Greenspan said made one wonder what he meant G5........'Greenspeak' or 'Fedspeak' is his legacy......~S~

 

[g5000]

Greenspan's greatest flaw was his libertarianism.

In his younger years, Greenspan had a close relationship with Ayn Rand.

The thing about libertarians is they have a massive blind spot when it comes to human nature.

Greenspan, and all libertarians, believe in the "Invisible Hand" which causes capitalists to self-correct. I call it the "Imaginary Hand" because we live in the real world where corporations buried toxic chemicals under playgrounds, and poured poisons into our lakes and rivers and oceans and turned our skies black with smog. We live in a world where a car company that discovers a fatal flow in their design will calculate the cost of fixing the problem against the cost of lawsuits from preventable deaths and go with the cheaper "solution".

Greenspan learned just how stupid his belief in the "Invisible Hand" was when he failed to regulate the banks and their financial derivatives which led to the greatest economic crash since the Great Depression.

During a feisty exchange on Capitol Hill, he told the House oversight committee that he regretted his opposition to regulatory curbs on certain types of financial derivatives which have left banks on Wall Street and in the Square Mile facing billions of dollars worth of liabilities.

"I made a mistake in presuming that the self-interests of organizations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms," said Greenspan.

Greenspan - I was wrong about the economy. Sort of

Former Federal Reserve chairman and cheerleader of deregulation concedes 'mistake' in free market ideology

www.theguardian.com

 

[g5000]

a lot of what Greenspan said made one wonder what he meant G5........~S~

No, his language with respect to workers accepting low wages in exchange for job security was quite plain.

He was not saying it was his job to keep wages low. He was simply making an observation.

As for the "Fedspeak" alluded to earlier, market watchers read all kinds of meanings into things the Fed says, which makes the Fed have to be extremely careful with their choice of words as one verbal slipup can cause the stock market to roil.

I read Greenspan's book, The Age Of Turbulence, and he described how Wall Street pundits would read meaning into how thick his briefcase was when he was seen in public.

 

[sparky]

Greenspan's greatest flaw was his libertarianism.

In his younger years, Greenspan had a close relationship with Ayn Rand.

The thing about libertarians is they have a massive blind spot when it comes to human nature.

Greenspan, and all libertarians, believe in the "Invisible Hand" which causes capitalists to self-correct. I call it the "Imaginary Hand" because we live in the real world where corporations buried toxic chemicals under playgrounds, and poured poisons into our lakes and rivers and oceans and turned our skies black with smog. We live in a world where a car company that discovers a fatal flow in their design will calculate the cost of fixing the problem against the cost of lawsuits from preventable deaths and go with the cheaper "solution".

Greenspan learned just how stupid his belief in the "Invisible Hand" was when he failed to regulate the banks and their financial derivatives which led to the greatest economic crash since the Great Depression.

During a feisty exchange on Capitol Hill, he told the House oversight committee that he regretted his opposition to regulatory curbs on certain types of financial derivatives which have left banks on Wall Street and in the Square Mile facing billions of dollars worth of liabilities.

"I made a mistake in presuming that the self-interests of organizations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms," said Greenspan.

Greenspan - I was wrong about the economy. Sort of

Former Federal Reserve chairman and cheerleader of deregulation concedes 'mistake' in free market ideology

www.theguardian.com

Yes i remember him capitulating G5.......

~S~

 

[sparky]

I read Greenspan's book, The Age Of Turbulence, and he described how Wall Street pundits would read meaning into how thick his briefcase was when he was seen in public.

So he described himself a kicking post G5?

that might explain a lot......like the turnover of his position since he left it....?

~S~

 

[g5000]

Even after the meltdown of Long Term Capital Management in 1998, which was the first systemic risk to the global financial system, the "Committee to Save the World" (Alan Greenspan, Larry Summers, and Robert Rubin) quashed the calls for a regulatory framework for financial derivatives.

 

[sparky]

and we got>>>

~S~

 

[g5000]

and we got>>>

View attachment 1272230

~S~

"Only when the tide goes out do you discover who's been swimming naked." - Warren Buffett

 

[Fort Fun Indiana]

RIP

May we someday learn from his shit, Randian policies what not to do.