Greenspan "epiphany" (account, range, get, year)

[MissDaisy]

Greenspan "denied the economic crisis was 'his fault' but conceded the meltdown had revealed a 'flaw in a lifetime of economic thinking' and left him in a state of shocked disbelief"

It only took him 18 plus years as Federal chairman, and the two plus years to follow come to THAT conclusion?

I seem to remember there were rumblings in '06 about what we are experiencing RIGHT NOW ..but they were pooh-poohed..

So, pretty much, Greenspan has joined Britney Spears in a chorus of

"Oops I did it again..."


...Must be nice to skim off the cream, and in the aftermath say gosh, I guess I was incorrect all this time...

"MY BAD"...oh well.....

I never trusted Greenspan...maybe HE should be held accountable!!! ...and please do NOT play the "he's an 82 yr old guy" like the media has..by my math, he would have been 62-ish when the charades began..

Thanks Greenspan....for NOTHING...

maybe less than nothing..

[texdav]

Personally I think he was just very honest about it.He said he never thought housing would decline so fast;so much.In fact I really doubt anyone did altho the say they knew it after factI thnik many thought that marlkets were too high in many states but take a drop like we have seen ;not really.

[harry chickpea]

<Shrug> His talk before Congress could be summed up with the phrase "I have always depended on the kindness of strangers." That is a far cry from where he started out. The epiphany that he has finally had is that there have to be enforced rules in a marketplace, and that people working in their own best interest aren't always working in the best interests of the country. In that realization, he is over 250 years late.

[scimitar12]

I resented Greenspan's statements. On the one hand, he did speak the truth, on the other, he should have known better that this situation was on the horzon while he was in office. He clearly kept thinking in the short term and that market conditions would not deteriorate during his run. Quite the elder statesman he turned out to be.

[HappyTexan]

Shock that the banksters could regulate themselves and not get too greedy ?

I'm shocked that he's shocked to say the least.

[Stephan_K]

Lets look at this with a little common sense. MANY economists and regular people had seen this bubble years ago. Now Greenspans JOB (World Economist lets not forget) was to steer the ship so to speak while monitoring ALL the economic data. And people really believe him when he says he never foresaw this happening ?! Everything was getting levered beyond belief and that was 'normal' to him or he didn't fully take it into account ?!

Ahhh, OK... I'm not buying it. Blow smoke up someone elses...