Allan Greenspan

Yeah I saw it last night...and the reporter failed to ask the real question, the important one..concerning M3 and the currency issue.

Boy did Greenspam dance around the issues and deflect blame..I was dissapointed with his responses and lack of responsibility.

I missed it, but what did you expect.  He still really can't say everything he might want to say.  His words still effect things so he has to be careful.  What responsibility did you want him to take?  In the big picture, all things considered, I think he did an excellent job during his tenure.  Not everything is within his control.  Don't really think lenders giving bad subprime mortgages was his responsibility.

D2,

Actually I think her name is Leslie Shall (spelling) and she DID ask him about the lending issues and how it happened because of him and his rate cutting massacre and how he was told by many that there was concern. If I recall his response was "I dont see it that way" and deflected the responsibility.

Greenspam was to blame, he had an adjenda and his opinions and control were to blame for a few things, one being the FED keeping rates too low for too long which was irresponsible. Next for being responsible for the currency flow and stopping reporting M3, that was on his dime.

I also blame him for dropping rates too fast in the middle 90s and not raising them soon enough to stop the hyper move in the markets, then going overboard to KILL the markets once they were up so high.

The FED has been behind the curve for 20 yrs..and in fact the hyper inflation in the late 70s also falls on the Federal Reserve (not greenspam though)

So yeah he carries PLENTY of blame..in fact in the article it was brought up that MANY on the Fed board tried for a long time to raise rates fearing the housing explosion and Greenspam over rode them and forced his views on monetary policy.

Sorry D2, Greenie has plenty of blame, and I hate that he wouldnt answer questions (like in what currency he is invested)