Tags: Economy + Greenspan + housing + loan defaults + sub prime + Treasury + wall street
The US has done it this time–syndicated a global financial crisis through the export of sub-prime loans. But for all of Wall Street’s shamelessness and former Fed Chairman Greenspan’s chutzpah to counsel the US Congress to permit unbridled derivative contract sales so banks could “offload risk,” aren’t investors somewhat to blame?
August 2, 2008 - Markets, Politics - 0 Comments
Tags: Barney Frank + Economy + Fannie Mae + Foreclosures + Freddie Mac + housing
Congress is at the threshold of passing a new bill to bailout Fannie Mae and Freddie Mac—two publicly traded (shareholder owned) mortgage companies that have access to cheap money from Treasury to guarantee pools of mortgage loans so that they can be resold to investors
July 25, 2008 - Economy, Markets, Politics - 0 Comments
Tags: Fed + Ginnie Mae + Greenspan + housing + Reform + Treasury
Former Federal Reserve Chairman Alan Greenspan is on a road trip to defend himself as not being responsible for the current financial crisis. In a recent Fortune e-zine broadcast interview he argued that the housing bubble was a crisis waiting to happen; that we have been through this type of event
April 9, 2008 - Economy, Politics - 0 Comments
Tags: Federal Reserve + Greenspan + housing + Justice + Mortgage Meltdown
Fortune Magazine’s investigative unit recently produced a video cast entitled “Bu$ted the Mortgage Meltdown” featuring commentary by former Fed Chairman Alan Greenspan who took the defensive arguing that the current housing bust was “an accident waiting to happen.” In his words, “If it wasn’t the housing bust it would be something else.” Greenspan absolved himself of responsibility saying that: “we have been through […]
March 28, 2008 - Economy, Politics - 0 Comments
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