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Greenspan Admits Errors to Hostile House Panel

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

  1. Revmitchell

    Revmitchell Well-Known Member
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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.


    More Here
     
  2. Palatka51

    Palatka51 New Member

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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

    Revmitchell Well-Known Member
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    Well he had his arm twisted to do so.
     
  4. LeBuick

    LeBuick New Member

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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

    Bro. Curtis <img src =/curtis.gif>
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    Isn't Greenspan married to Anrea Mitchell, NBCNews ?

    That's why he said it.
     
  6. Revmitchell

    Revmitchell Well-Known Member
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    As was Barney Frank, and every other Democrat.

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

    LeBuick New Member

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  8. Revmitchell

    Revmitchell Well-Known Member
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    #8 Revmitchell, Oct 24, 2008
    Last edited by a moderator: Oct 24, 2008
  9. Revmitchell

    Revmitchell Well-Known Member
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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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