Full clip of Greenspan's responses: http://www.videosift.com/video/Alan-Greenspan-I-Was-Wrong-longer-clip

Not fair.
Alan Greenspan proved himself to be more than capable of his post when he resigned at age 80...

Underlining Mark Thirlwell's point about the multitude of opinions with regards to the current economic crisis is this video of Naomi Klein and Joseph Stiglitz:

Liberal commentator Naomi Klein blames Alan Greenspan for the current economic crisis, citing the former Federal Reserve Chairman's push to deregulate financial systems such as derivatives markets as a key element of the crisis.



Nobel Prize-winning economist Joseph Stiglitz criticizes American financial leadership in the run-up to the current economic crisis, and declares free-market fundamentalism "dead" as a guiding principle of the U.S. economy.



Full video is at http://fora.tv/2008/10/20/Naomi_Klein_and_Joseph_Stiglitz_on_Economic_Power

Yep, Republicans in the White House, Republicans in Majority of Congress, and Republicans in control of the Supreme Court.

Certainly everything that went wrong was still the Democrats' fault, just for existing.

Even Alan Greenspan says it was deregulation that caused this, and not anti-discrimination laws, Fannie and Freddie, or Barney Frank's homosexuality.

Only rightwing nutjobs believe...oh yeah, I forgot who I was talking to.

Amoung those responsible for the current economic crisis is "Former Federal Reserve chairman Alan Greenspan, who in 2004, near the peak of the housing bubble, encouraged Americans to take out adjustable rate mortgages."

FactCheck.org

Amoung those responsible for the current economic crisis is "Former Federal Reserve chairman Alan Greenspan, who in 2004, near the peak of the housing bubble, encouraged Americans to take out adjustable rate mortgages."

FactCheck.org

FCC stands for Federal Communications Commission, and everybody knows that. So when you say FCC, people know what you're talking about. However, they can go fuck themselves with a big floppy dildo shaped like Alan Greenspan's syphilitic cock.

^WTF?

LMFAHS @ the Alan Greenspan line. So true.

There is no clearer sign of a totalitarian state than when so-called television news shows overwhelmingly defend the obvious gaffs and shortcomings of their favorite politician.

In America it's called the MSM; in Russia it was called TASS.

Thank you Ms. Andrea Mitchell, a.ka. Mrs. Alan Greenspan.

McCain is not entirely responsible for this. It's Alan Greenspan. Its the fact that the Federal Reserve allowed Wall Street to start implementing speculative influences and financial tools to make more money. Their reasoning was that if there is a gain in revenue it means a net gain for the economy as a whole. Never mind the fact that in actuallity its simply millions and billions of dollars doing hoop tricks instead of actually producing anything. Production creates prosperity not financial retooling.

Of course this is easier to say now then back then, but its easy to pull lessons from the 80s times of rampant wall street gaming, junk bonds and other financial warnings like the Asian economic crisis.

But remember finance and economics is a young inexact science (though don't tell this to economists they think everything in the world can be whittled down to scientific formulas and models). Laying the blame on McCain is a cheap political shot without the contextual information regarding the failings of the financial controllers who watch over such actions, such as the Federal Reserve and the SEC.

The Alan Greenspan of 1966 supported the use of the gold standard. But this was before monetarism became standard among economists. The modern Alan Greenspan supported fiat money.

The Federal Reserve helped cause the Great Depression, but that wasn't because of the gold standard. If we had had fiat money back then, the result would have been similar. When the money supply needed to be expanded, the Federal Reserve tightened it, an incredibly stupid move. Although if the U.S had been on fiat money, the FED would have had more freedom to increase liquidity in the markets.

"The discipline of the gold standard would surely reinforce anti-inflation policies, and make it far more difficult to resume financial profligacy. The redemption of dollars for gold in response to excess federal government-induced credit creation would be a strong political signal."
- Alan Greenspan

http://www.youtube.com/watch?v=ltzQIFftXzo&NR=1

http://www.youtube.com/watch?v=O7pnjzCuSv8&feature=PlayList&p=02E125F5C0A60FD8&index=30

Listen, I vote on quality too, not because I feel pity for anyone. I'm simply saying that I think many newbies are overlooked because they're not a known quantity yet. I know this because recently I resubmitted several videos that I tried to do when I was new here but died in queue, but this time they made it out of queue in less than 36 hours. Why? They're the EXACT same videos, after all. I think it's because I've been around here for a while and people know my body of work by now so they're willing to view other videos of mine, whereas newbies easily get passed over. All of this is basically what smibbo said, but I think it's worth repeating.

And MINK: I think one of the many definitions of "hater" would be someone who uses the word "retarded" to describe just about anything they don't like or disagree with. Like this. And like this. And like this. And like this. And like this. My, you're just so fucking eloquent! Maybe you can grace us with writing "retarded" in French too! Sorry choggie, but your friend MINK's a hater, plain and simple. I know it, smibbo knows it, raven knows it, virtually everyone here knows it. I think most of us put it up with it because we'd rather see MINK being an asshole here than drowning kittens. Maybe that's why you thought quantummushroom got railroaded, i.e., because he's a kindred spirit, MINK. Shitstains like you are a dime a dozen at Break.com, which is probably why you're here instead: So you can be the biggest shitstain in our little video pond.

So to reiterate my previous point but with more MINKish panache: Fuck you, retarded hater.

Alan Greenspan could have prevented much of the housing fiasco if he just said there was a bubble developing, he didn't so all the garbage kept compounding.

Ya, blame Bush for the economy, that's real bright. I guess Alan Greenspan and the millions of idiot Americans who took out variable-rate home loans have nothing to do with the issue...