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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (362805)	12/14/2007 7:07:56 AM
From: Alighieri	Read Replies (2) \| Respond to of 1578072

Greenspan: Odds Rising for a Recession Time for another tax cut... Al

To: bentway who wrote (362805)	12/14/2007 1:22:37 PM
From: tejek	Read Replies (1) \| Respond to of 1578072

Greenspan's remarks come just days after the Federal Reserve, under Chairman Ben Bernanke, sliced a key interest rate for a third time this year to prevent the housing and credit troubles from sinking the economy. The situation poses the biggest challenge yet to Bernanke since succeeding Greenspan in February 2006. Some analysts have questioned whether Bernanke waited too long to cut the Fed's key rate and whether he has acted aggressively enough to soothe the economy's woes. The Fed initially dropped its key rate in September, the first reduction in four years. That was followed up by additional rate cuts in late October and then again on Tuesday. Greenspan's pronouncements about the economy are for Bernanke's ears. He is telling Bernanke to get his butt in gear. Bernanke is quickly losing the respect of many economists and wall street investors.

To: bentway who wrote (362805)	12/14/2007 1:56:45 PM
From: Tenchusatsu	Read Replies (2) \| Respond to of 1578072

Chris, I am quickly losing respect for Greenspan: > Greenspan again rejected criticism that his policy actions helped to feed a housing boom that eventually went bust. Critics say Greenspan held interest rates too low for too long after the 2001 recession. > To have prevented such euphoria in housing that fed a bubble in prices, Greenspan said the Fed would have had to jack up interest rates so high that it would have damaged the economy. "That would have broken the back of the economy, and brought the housing boom down," Greenspan said. So the guy helped create the housing boom, helping to pull the economy out of the 2001 recession, then says he was powerless to prevent the euphoria which followed? This guy is sounding more and more like Bill Clinton. Take credit for a strong economy, as long as your successor is left holding the bag. Poor Bernanke ... Tenchusatsu