Mon 5 May 2008
Reuters reports one of the items in an auction to benefit the Robert F. Kennedy Memorial is a tea with Alan Greenspan and his wife Andrea Mitchell. It isn’t final til May 7, but the current bid is $11,000.
VIP tickets to Mad Money and a phone chat with Suze Orman are among the other items up for auction. To see what’s available, visit CharityBuzz.
Mon 5 May 2008
NEW YORK (Reuters) - The United States has fallen into an “awfully pale recession” and may remain stagnant for the rest of the year, former Federal Reserve chairman Alan Greenspan was quoted on Monday saying.
“We’re in a recession,” Bloomberg news agency reported Greenspan had said in a television interview. “But this is an awfully pale recession at the moment. The declines in employment have not been as big as you’d expect to see.”
Not the first time Greeny has said we’re in a recession; however, it is the first time he’s used such interesting adjectives. He expects a stagnant ‘08, with growth not returning until the housing markets stabilize.
Wed 9 Apr 2008
Greenspan - hero or pariah? Is the “greatest central banker who ever lived” more likely to go down in the Guinness Book of World Records for epic bubble-blowing?
From a recent WSJ article:
“I was praised for things I didn’t do,” Mr. Greenspan said during one of three interviews at his sun-drenched office in downtown Washington, D.C. “I am now being blamed for things that I didn’t do.”
Unfair, says he.
Mon 24 Mar 2008
In an interesting example of Democratic corporate welfare, Reuters reports: Former Federal Reserve Chairman Alan Greenspan and other economic experts should determine whether the U.S. government needs to buy up homes to stem the country’s housing crisis, Democratic presidential candidate Hillary Clinton will propose on Monday.
Clinton, a presidential candidate and senator from New York, said the Federal Housing Administration should “stand ready” to buy, restructure and resell failed mortgages to strengthen the ailing U.S. economy.
Implode-o-meter referred to it as a fox being let back into the henhouse.
Sun 23 Mar 2008
Alan Greenspan shows off his moves.
Mon 17 Mar 2008
Greenspan on what we should learn from what happened and how we still won’t be able to predict the next bubble, I mean crisis:
We will never be able to anticipate all discontinuities in financial markets. Discontinuities are, of necessity, a surprise. Anticipated events are arbitraged away. But if, as I strongly suspect, periods of euphoria are very difficult to suppress as they build, they will not collapse until the speculative fever breaks on its own. Paradoxically, to the extent risk management succeeds in identifying such episodes, it can prolong and enlarge the period of euphoria. But risk management can never reach perfection. It will eventually fail and a disturbing reality will be laid bare, prompting an unexpected and sharp discontinuous response.
