It’s pretty darn clear that Greenspan needs to shut up. Someone needs to remind him he’s no longer in charge, and now only making things more difficult for Bernanke. (And it won’t be his wife—she’s probably the conduit).
He, he has a book to pimp, does he not? The man’s just tryin’ to make a buck, yo.
I don't normally pimp YouTube videos, but if you haven't seen this, it's well-worth watching...
Since Democrats took control (Jan. 2007):
The U.S. financial crisis won't end until housing prices stabilize, but that won't happen for months, wrote Greenspan. The models used by the finance industry to determine risk and measure economic strength are too simple to fully account for human responses, he said. "We cannot hope to anticipate the specifics of future crises with any degree of confidence," he wrote.
However, Greenspan said that he hoped the fallout would not take away the finance industry's ability to regulate itself. Market flexibility and free competition are the most reliable safeguards against economic trouble, he said; the system which is supposed to guard against unanticipated losses will need to be overhauled."
Where do you disagree with the above, and how do you think it makes things harder for Bernanke, other than the alarmist nature of saying the economy is the most wrenching since the end of WWII? Also, what do you think Bernanke should be doing about it?
>> It’s pretty darn clear that Greenspan needs to shut up. Someone needs to remind him he’s no longer in charge, and now only making things more difficult for Bernanke. (And it won’t be his wife—she’s probably the conduit).
Yes, and it’s worse than merely being yet another has-been mouthing off inappropriately.
He’s a consultant now, isn’t he? He has another agenda to serve.