Greenspan sees house price bottom in 2009

[Irvine Wanna Be_IHB]

Considering some feel that he played a big part in causing our current problem, I think his credibility is a bit suspect.



http://news.yahoo.com/s/nm/20080813/bs_nm/usa_economy_greenspan_dc

 

[Gohabsgo_IHB]

[quote author="Irvine Wanna Be" date=1218702728] I think his credibility is a bit suspect.</blockquote>


At best

 

[graphrix_IHB]

<a href="http://www.bloomberg.com/apps/news?pid=20601087&sid=aTs_EsiSlywc">Funny, he said the same thing in October of 2006</a>. Hat tip to Barry for that one, and <a href="http://bigpicture.typepad.com/comments/2008/08/greenspan-calls.html">check out his rant about the putz</a>.



Paging asianinvasian, we need your chart and Greenspan is an idiot comment in this thread.

 

[awgee_IHB]

For the life of me, I can not figure out why anybody would care what Greenspan says.

 

[optimusprime_IHB]

Cuz Alan is the Maestro



Off on a tangent but I find it funny how people blame Dubya for the bubble...I go uhhh...there was this guy named Alan Greenspan ...but but but Bush told him what to do

 

[no_vaseline_IHB]

To all the Greenspan haterz, I pose a question..................



What would you have had Alan do?

 

[awgee_IHB]

[quote author="no_vaseline" date=1218766550]To all the Greenspan haterz, I pose a question..................



What would you have had Alan do?</blockquote>


As little as possible. Maybe nothing. Or deconstruct the Federal Reserve. Stop buying US treasuries. Gosh, No_Vas, I could go on for hours.

 

[optimusprime_IHB]

[quote author="no_vaseline" date=1218766550]To all the Greenspan haterz, I pose a question..................



What would you have had Alan do?</blockquote>


Not keep Fed Funds at 1% for 1 yr (06/25/03 to 06/30/04)



And not recommend the use of ARMS a year before the peak of real estate.



Abolished his GREENSPAN PUT!!

 

[awgee_IHB]

Some Greenspan quotes:


In 2004, when answering on the possiblity of a housing bubble: <i>"a national severe price distortion seems most unlikely in the United States, given its size and diversity."</i>




/




October of 2006: <i>"I think the worst of this [housing problem] may well be over."</i>

 

[PadreBrian_IHB]

He needs to retire to Florida. Yes, he did a good job late 90's and early 2000, but he blew it in 2002. Things should have been tightened, just a tad. Money was too easy to get for the banks, and they blew it left and right.

 

[OCCOBRA_IHB]

Greenspan definitely needs to retire and the press needs to start ignoring him. He started this mess and is so myopic on what is really going on that i don't even read his comments anymore. He needs to buy a nice foreclosed condo in Florida and pick up lawn bowling as he is not helping anyone by opening his mouth...