Greenspan Admits Errors to Hostile House Panel

Discussion in 'News / Current Events' started by Revmitchell, Oct 24, 2008.

  1. Revmitchell

    Revmitchell
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    Alan Greenspan, lauded in Congress while the economy boomed, conceded under harsh questioning from lawmakers that he had made mistakes during his long tenure as Federal Reserve chairman that may have worsened the current slump.

    In a four-hour appearance before the House Oversight Committee Thursday, Mr. Greenspan encountered legislators who interrupted his answers, caustically read back his own words from years ago, and forced him to admit that, at least in some ways, his predictions and policies had been wrong.


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  2. Palatka51

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    At least he is man enough to admit it. Can't say too much about Barney Frank or Chris Dodd's masculinity.
     
  3. Revmitchell

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    Well he had his arm twisted to do so.
     
  4. LeBuick

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    What strikes me odd is why he said he was wrong. In a round about way he seems to hint the problem was not enough regulation. I know this wasn't the entire problem but I believe Greenspan was a big supporter of deregulation.

     
  5. Bro. Curtis

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    Isn't Greenspan married to Anrea Mitchell, NBCNews ?

    That's why he said it.
     
  6. Revmitchell

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    As was Barney Frank, and every other Democrat.

    http://www.youtube.com/watch?v=_MGT_cSi7Rs
     
  7. LeBuick

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  8. Revmitchell

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    #8 Revmitchell, Oct 24, 2008
    Last edited by a moderator: Oct 24, 2008
  9. Revmitchell

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    He called for regulation on Fannie Mae and Freddie Mac in 2005. Schumer and company fought it.
     

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