Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Greenspan says worst of credit crisis over: sources
Reuters ^ | May 8, 2008 | Lucia Mutikani

Posted on 05/08/2008 12:35:36 PM PDT by Brilliant

Former Federal Reserve Chairman Alan Greenspan said on Thursday that the worst of the credit crisis is over, according to attendees at a New York speech.

Greenspan also said house prices still had a long way to fall and it was unlikely they would stabilize by year-end, according to meeting attendees who provided Reuters details of the speech delivered at the Alternative Public Strategies Conference.

The attendees, who declined to be identified by name, said Greenspan mentioned that U.S. growth was likely to be sluggish for an extended period of time.

The U.S economy is reeling from a housing-led slowdown, with some analysts convinced it is already in a recession despite a 0.6 percent growth rate in the first quarter.


TOPICS: Business/Economy
KEYWORDS: banks; busheconomy; economy; fed; recession; subprime

1 posted on 05/08/2008 12:35:36 PM PDT by Brilliant
[ Post Reply | Private Reply | View Replies]

To: Brilliant

More press to sell his book huh?

When is he just going to shut his yap.


2 posted on 05/08/2008 12:36:39 PM PDT by fightinbluhen51 ("...If it moves, tax it, if it moves faster, regulate it, if it stops, subsidies it.")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Brilliant

The MSM will continue to report the gloom and doom scenario until after the election.


3 posted on 05/08/2008 12:44:54 PM PDT by detective
[ Post Reply | Private Reply | To 1 | View Replies]

To: Brilliant
Rooters must have telepaths on the payroll, because a normal human can't understand whatever it is Greenspan says. The words are English, but his sentences seem to run about 200 words or so.

/johnny

4 posted on 05/08/2008 12:45:22 PM PDT by JRandomFreeper (Bless us all, each, and every one.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Brilliant

Greenspan should now, he started the whole mess.


5 posted on 05/08/2008 12:51:10 PM PDT by Para-Ord.45
[ Post Reply | Private Reply | To 1 | View Replies]

To: Brilliant
the worst of the credit crisis is over, according to attendees at a New York speech.

Greenspan also said house prices still had a long way to fall and it was unlikely they would stabilize by year-end,


Typical double speak from Greenspan. I guess it means whatever I want it to mean.
6 posted on 05/08/2008 1:05:32 PM PDT by mmichaels1970
[ Post Reply | Private Reply | To 1 | View Replies]

To: Brilliant

Like a bunch of parrots...they all know full well that Alt-A and Option ARM resets haven’t even started yet. Subprime was a band of strong thunderstorms in advance of the hurricane.


7 posted on 05/08/2008 1:10:11 PM PDT by Mr. Jeeves ("One man's 'magic' is another man's engineering. 'Supernatural' is a null word." -- Robert Heinlein)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Brilliant

Of course the worst is “over” - they now have the “Fed has your back” concept firmly established.


8 posted on 05/08/2008 1:15:12 PM PDT by nicola_tesla ("Life is Tough... It's Worse When You're Stupid".... John Wayne)
[ Post Reply | Private Reply | To 1 | View Replies]

To: nicola_tesla; Brilliant

Hit the button too soon - meant to add:

And the taxpayers have the Fed’s back.

Suck it up, taxpayers, the Wall Street pigmen will be dipping their hands in your pockets via taxes and inflation.


9 posted on 05/08/2008 1:16:58 PM PDT by nicola_tesla ("Life is Tough... It's Worse When You're Stupid".... John Wayne)
[ Post Reply | Private Reply | To 8 | View Replies]

To: fightinbluhen51

I thought, like a month ago, he was saying we were doomed.


10 posted on 05/08/2008 1:20:19 PM PDT by PeteB570 (NRA - Life member and Black Rifle owner)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Brilliant

Greenspan needs to just retire and be quiet. He isn’t the HMFIC anymore, and needs to realize that fact.


11 posted on 05/08/2008 1:20:56 PM PDT by Recovering_Democrat (Just say NObama!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Brilliant

Can it be made a federal offense to be Alan Greenspan? It’s getting to that point.


12 posted on 05/08/2008 1:27:20 PM PDT by utherdoul
[ Post Reply | Private Reply | To 1 | View Replies]

To: fightinbluhen51
More press to sell his book huh?

When is he just going to shut his yap.

The guy walked with kings. The world hung on his words. And now...now he's just another schlub on the crosstown bus of life. The guy is becoming pathetic.

13 posted on 05/08/2008 1:42:52 PM PDT by yankeedame ("Oh, I can take it but I'd much rather dish it out.")
[ Post Reply | Private Reply | To 2 | View Replies]

To: nicola_tesla

“Of course the worst is “over” - they now have the “Fed has your back” concept firmly established.”

Which just further subsidizes and encourages more risk, and inflation.


14 posted on 05/08/2008 2:24:24 PM PDT by Shermy (Nightmares From My Pastor, A Story of Race and Insanity)
[ Post Reply | Private Reply | To 8 | View Replies]

To: PeteB570

“I thought, like a month ago, he was saying we were doomed.”

He was right then.

The solution since then—fed backing of all sorts of instruments. Mortgage securities holders love this, because they don’t have to renegotiate loans with home owners. IOW, we will all pay for this one way or another.


15 posted on 05/08/2008 2:26:50 PM PDT by Shermy (Nightmares From My Pastor, A Story of Race and Insanity)
[ Post Reply | Private Reply | To 10 | View Replies]

To: Shermy

Yep. The Fed is now taking auto loans and credit card debt.

There’s not going to be a good ending to this as far as j6p is concerned. The middle class is so screwed.


16 posted on 05/08/2008 7:05:22 PM PDT by nicola_tesla ("Life is Tough... It's Worse When You're Stupid".... John Wayne)
[ Post Reply | Private Reply | To 15 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson