Comments on: Greenspan – Housing Bubble Not My Fault!

By: Cynic

Cynic — Mon, 15 Jun 2009 07:53:38 +0000

They all knew exactly what they were doing.
This guy has worked it out.

http://www.freelists.org/post/harbor/Ron-Paul-No-Go

I say GreenSpan is guilty of treason, lock him up with Madoff and throw away the key.

By: Vikas

Vikas — Wed, 13 May 2009 09:01:31 +0000

Alan Greenspan said falling home prices in America are “nowhere near the bottom”.
But i am not sure about it. Now its hard to believe on such statements

By: judy

judy — Mon, 30 Mar 2009 17:01:07 +0000

Nice post. On foreclosure: I like the produce-the-note strategy. I live in Tampa and know one person he helped, and it actually worked. They did not get the entire home paid for, but they got terms adjusted to be favorable and they were able to avoid foreclosure. It really varies by situation and probably the laws of your state on how far this goes. This site has all the videos they have done. Watch all the videos here: http://www.tinyurl.com/producenotevideo

By: Investment Property Rumours

Investment Property Rumours — Mon, 16 Mar 2009 17:01:30 +0000

Not Greenspan’s fault?! Hold on a moment while I get back up off the floor from laughing so hard and falling off my chair…..

Maybe not ALL Greenspans fault, but the fact that he has a large part in steering the economy of many countries, not just the USA with what he says, perhaps some kind of acknowledgement might be an idea. Aside from that, even if knowing who’s fault it actually is, how about coming up with an answer on how to fix it?

By: Mark Madsen

Mark Madsen — Sat, 14 Mar 2009 04:04:56 +0000

Bottom line, we were given mortgage programs that allowed just about anyone to buy a home. It seems like I use to receive 50 faxes a day from my wholesale lenders promoting “stated income – No 4506″ down to 600 fico scores, limited trade line requirements, 100% financing, “we don’t verify rent” and so on….

I’m not saying that it is the banks’ fault for giving us these types of programs, but it sure didn’t help.

By: Woodstock real estate

Woodstock real estate — Fri, 13 Mar 2009 13:20:08 +0000

It doesn’t matter if Greenspan was at fault or not. As a country we need to focus on where we are heading into the future, not what happened in the past. The media wants to blame everyone for this. Bush, Clinton, have been getting hammered as of late. We need to make sure this doesn’t ever happen again, not rehash the past. What’s done is done.

By: Chandler Real Estate

Chandler Real Estate — Fri, 13 Mar 2009 05:50:59 +0000

Great post!

There is a fundamental flaw in Greenspan’s ideology as he has admitted in the past. He thought that markets and shareholders would work to correct imbalances and inequities in the market and that the banks would act in the long term interest of their shareholders.

The banks did act in the interest of their shareholders, just in the short-term quick gain interest.

Greenspan’s reliance on markets to completely correct themselves represents a certain polar extreme in perspective. In some sense, this ideology is the idea of perfection of how markets operate. Unfortunately, markets are not any more perfect as the men that created them. There has to be some level, even if small, of a regulatory or overseeing hand to make sure the market doesn’t approach extremes of behavior.

Greenspan deserves a lot of the credit for the housing crisis during his tenure. I don’t believe many take him very seriously when he tries to place the crisis at others’ doors. A final point though – if people believe that this just came about because of actions by the Fed and the U.S. Congress in deregulating markets, it would oversimplify the impact of the culture of greed and self-satisfaction that took root in the U.S. before and during this time.

David Lorti

By: Lakewood Ranch Real Estate

Lakewood Ranch Real Estate — Wed, 11 Mar 2009 17:58:06 +0000

Of course it’s not…

Just like the banks and the buyers who bought homes they couldn’t afford, Greenspan doesn’t want to take any responsibility….

By: Corey K

Corey K — Wed, 11 Mar 2009 16:56:31 +0000

If you believe this, I have got a bridge in Brooklyn I would like to sell you. What about the derivatives market? How about all the money that the FED auctioned off on the cheap to banks and lending institutions under Greenspan’s direction? How about his encouragement to these banks and lending institutions to not only engage in sub-prime lending but then to package as many of them up for purchase as automatic AAA rated paper? So many people now are avoiding foreclosure with a simple phrase…”Produce the note”? Why did Sec. Clinton go over to China and tell them they would get imminent domain as collateral for all the mortgage packages they bought up that are worthless now?