Not sure all this testimony is going to make Congress any smarter, but it might keep them busy so they don't mess anything up worse: Former Federal Reserve Chairman Alan Greenspan's prepared statement FDIC Chairman Sheila Bair's prepared statement (Still amazes me that the most innovative, practical solutions are coming out of the FDIC) US Treasury Interim Secretary for Financial Stability Neel Kashkari's prepared statement … [Read more...]
Greenspan on Housing Market, US Inflation Jumps, Foreclosures Rapidly Rising Too
August 14, 2008 By Leave a Comment
WSJ: Greenspan Reflects on the Bottom of the Housing Market, Fannie/Freddie Bailout, and Immigration? Former Federal Reserve Chairman, Alan Greenspan tries again to call the bottom of the housing market in an interview timed around the release of the paperback version (equipped with a new chapter defending his record) of his recent book. He give sound rationale and methodology on how to guesstimate the bottom, using housing supply and spread between owing and renting. However, he gets a little bizarre … [Read more...]
