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PegnVA

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PegnVA

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Friday, 10/18/2013 7:14:57 AM

Friday, October 18, 2013 7:14:57 AM

Post# of 488234
Alan Greenspan, Chairman of the Fed Reserve from 1987 to 2006, was interviewed on NPR this morning to peddle his new book...He said the Fed Reserve was "surprised" by the 1007-08 economic collapse. Greenspan said, "I came very close on the dotcom boom; I did not come close on the housing boom".
Why the housing collapse in 2006-07 was a "surprise" to Greenspan is a mystery, especially since then-Vice Chairman of the Board of Directors of the Fed Reserve in San Francisco, Janet Yellen, "warned Washington in 2003" there was a problem in housing. Perhaps Greenspan's personality does not allow him to believe anyone knows more about economics than he and, of course, Janet Yellen is a she - how could a she possibly know more than he?







"...the empty desks of 20 children marked absent today, and forever"
-Poet Richard Blanco at President Obama's Inauguration, 01/21/13

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