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alan greenspan defends himself

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some say that due to greenspan's keeping interest rates too low for too long, that he paved the way for or even caused the current economic crisis facing the real estate market (which in turn directly affects the overall economy). he also stands accused of not having done more to prevent sub-prime lending, which in turn leads (and has led) to a record number of foreclosures as well as falling housing prices, and the so-called "bursting of the housing bubble". greenspan defends himself against these accusations and more in the opening segment of the 60 minute interview with lesley stahl (aired 9/16/2007) btw- i know little to nothing about economics and lending practices. if i am stating something incorrectly above, please feel free to kindly point it out to me, and i will make a correction (when i can finally make the time). thank you.

Channel: News & Politics
Uploaded: November 30, 1999 at 12:00 am
Author: shitstinx

Length: 04:56
Rating: 4.49
Views: 58712

Tags: bubble  burst  default  federal  foreclosure  greenspan  housing  interest  lending  loan  low  rate  reserve  sub-prime  

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Video Comments

forjusticethnks (November 30, 1999 at 12:00 am)
Greenspan doesn't give a shit about you, he exists to protect corporate interests. Leslie Stahl and the rest of these inside traders only ask the "tough" questions of these sheenies after they have stolen all of your lifes savings.
tippingpts (November 30, 1999 at 12:00 am)
for anyone interested in why a lot of academics believe Alan Greenspan may have had a steady hand in our current crisis, read THE PREDATOR STATE by James K. Galbraith. I especially like the part about Greenspan or Clinton having almost nothing to do with the boom of the late nineties, but was a result of unforseen forces coming together in a case of awesome luck. Also check out NNT's THE BLACK SWAN. Fuck this baldheaded motherfucker for not doing anything about the bubble, and fuck economists
nardeenhanna (November 30, 1999 at 12:00 am)
thx 4 posting that vid. although im not american but that man speech affects everyone whether he was economist or not...as financial crises faces inflation or depression..
marcosmv9 (November 30, 1999 at 12:00 am)
you have no idea of what you are talking about.
Hexelsfayt (November 30, 1999 at 12:00 am)
this man controls too much of america we live in a place with democracy but he corupts the minds of at least 200 million ppl! 200 MILLION! thats hard to believe but it is true
catholicmother27 (November 30, 1999 at 12:00 am)
A horrible, horrible man - devoid of all conscience. Poor America - I pray for her that ppl don't let her down. Please, please Mother intervene and let McCain/Palin win election. Pray for Hannity/Limbaugh/Levin - for truth always, always truth for we have nothing else!!
intrepidlikes (November 30, 1999 at 12:00 am)
I think I agree with you here. LAISSEZ FAIRE capitalism means LIMITED govt. intervention. Meaning govt. is essentially limited to its police function of keeping the peace and PREVENTING FRAUD in the market, NOT ENGAGE IN ECONOMIC ACTIVITY OR INTERFERE WITH PRIVATE ECONOMIC ACTIVITY.
intrepidlikes (November 30, 1999 at 12:00 am)
In the first House Oversight Committee Hearing headed by Sen. Waxman, Greenspan testified that as Fed Chairman, he only acted by Majority vote of the Fed Committee of Governors which is a procedure PROVIDED BY LAW. And there was never any committee recommendation pinpointing the financial fraud going on or to raise interest rates to stop it.
ThoughtCriminal911 (November 30, 1999 at 12:00 am)
no he is a reptile.
ThoughtCriminal911 (November 30, 1999 at 12:00 am)
greenspan is a fucking zionist criminal puppet of the jewish international bankers like rothschild. RESEARCH


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