December 17, 2007

Greenspan, after causing horrific housing bubble and crash, now calls for taxpayer bailout. HP calls for Greenspan to go f*ck himself.


I seriously have lost all patience with this discredited and corrupt fool.

Alan Greenspan is an enemy of America. Congress should pass a resolution asking for his "Presidential Medal of Freedom" back, and it should open an investigation into Greenspan's role in purposefully creating the housing bubble.

The "Greenspan Era" (or "Error") will be seen as the most shameful, destructive and corrupt time in American history. If I were Greenspan, I'd join Michael Jackson in seclusion, out of embarrassment and for personal safety.

Greenspan: Give Homeowners Financial Aid

WASHINGTON — Alan Greenspan, former chairman of the Federal Reserve, suggested Sunday that a tax break or other government financial help for homeowners facing the mortgage crunch would be the best political fix for the economy.

He cautioned against meddling with home prices or interest rates to address the housing problem.

Greenspan did not specifically call for a tax cut. Instead, he called for the government to apply money to the severe housing market slump. Such a cash infusion would typically come through a tax break or a new government spending program.

"Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this," Greenspan said during an appearance on ABC's "This Week."

53 comments:

Anonymous said...

Nice picture of the biggest American criminals of the century.

Ron Paul's time will be in 2012, when we will need someone to dust off our Constition and bring us back from the disaster we are about to go through.

Greenspan dead. Can't wait. Die you POS geezer.

Anonymous said...

F***king Meglomaniac wants to keep his "ego high" forever. His legacy is one of economic treason and he seems so far removed from reality he must believe he is still "in power" over the shadow bankster cartell. If there are going to be Nuremberg Trials to hold accountable such arrogant plutocrats for the ongoing economic destruction of the American people he should be one of the first traitors tried.

k.w. - southern ca. said...

It's far too late.

Tax payer bail-outs won't resolve this problem.

It's just throwing good money after bad.

Anonymous said...

Traitors

Bitterrenter said...

Let me remind you all: Greenspan is a supply-side conservative. Didn't a lot of you people vote for that?

When Clinton tried to appoint a liberal to the Fed the republican Congress stopped him.

Anonymous said...

WTF? Did he decide Hillary is bound to be elected now?

It's all just a pathetic flailing and whining to get around his own personal, ideologically motivated failure.

Specifically, his (now jettisoned) anti-regulatory viewpoint lapped at the tit of 17 year-old Ayn Rand fanbois was precisely the problem.

The Fed always had power to regulate the quality of lending reserves and standards at banks. If Alan Greenspan had cracked down on "liar loans", excessive loan to values & subprime---all using normal regulatory powers and not choking the full economy with tight money---we wouldn't have had anywhere as big a problem. It would be a little flap and then it woudl go away in 3 or 4 quarters.

Can't he ever admit he was wrong?
No, it doesn't seem to be the GOP way.

Modern GOP playbook on just about EVERYTHING: screw up completely thanks to stupid ideology, then spew out government dollars to the least deserving, admit nothing, make counteraccusations: that the opposition is "tax-and-spend liberals" and "playing politics" when they try to insert some accountability and sanity.

They can go """Cheney""" themselves. In a restroom.

Roccman said...

A card carrying member of the CFR.

He and the rest should be dragged out the street and tarred.

tater said...

Greenspan also said today that he saw early of signs of stagflation creeping into the economy. Wellll, no sh*t Sherlock!! He is so clueless to believe that he had nothing to do with this housing shutdown. The sh*t is starting to hit the fan, and he's running around, changing history with his banking cartel buddies, partaking of his grey poupon, and drinking his expensive booze. When we're out looking for work, he'll be raking in the dough by giving speeches at Harvard or some other fancy place. I think that i'm going to puke.

Anonymous said...

I'm all for it if it is the government giving all renters a 50% down payment for a house.

70% if it's a condo

christiangustafson said...

Is there any way we can rig up a dynamo to Ayn Rand's long-dead corpse? The generated energy could power much of the Eastern seaboard.

michael said...

"He cautioned against meddling with home prices or interest rates to address the housing problem."

this idiot doesn't realize that government subsidies DO impact prices?

AND HE WAS HEAD OF THE F*UCKING FED!!!!

man we are secrewed.

striker said...

http://news.bbc.co.uk/2/hi/business/7073131.stm


Scroll 1/3 of the way down to the green graph that says THE SUB-PRIME CRISIS IN CLEVELAND, hit the button that says foreclosures and look at how many black dots there are, and think to yourselves just how bad this is going to get and how many families are effected right now. we are truly fucked.

striker said...

OH, by the way, the Ron paul stuff is getting out of hand, get it under control keith.

renter who needs down deposit said...

"Cash is available and we should use that in larger amounts!"
********************************
$$$$$$$$$$$$$$$$$$$$$$$$$$$$

OK, bring out the money-copters!
Rev-up the printing presses!

YAHOO!!!!!

Please drop me a basket full of cash Mr. Greenspan! PLEASE!!!!

I NEED SOME ASAP!

Thank you! :)

Anonymous said...

I wish Greenspan would roll over and DIE !!!!!

Good riddence TRAITOR !

Hope your sorry ass BURNS IN HELL !

Edgar said...

Ack! Greedsperm! Man, Keith, that is one ugly maggot!

shakster said...

US citsens really don't care.They will just volunteer their boys to die in more wars to keep this horsesheitt going.
Funny goddamned picture though.
The US government parades these dipsh!ts all over hell,and their pomp,and circumstance tearjerk antics make a sane man barf.
George,and Alan in that picture ought send up some big red flags when one considers that a whole country follows wieners like that.
housing bubble my arse,it was a retard bubble that blew up.

Anonymous said...

Where will this cash come from? We are $9 trillion in debt. I'm sick of idiots who keep saying we are the richest country in the world. If debt is wealth, then we are the richest. Casey Serin is a microcosm of America.

Anonymous said...

Greenbags' ego is limitless. First he causes the worst financial disaster in US history since the depression then he asks us to pick up the tab. He is only trying to limit the disaster of his legacy that will be written in the history books.

Tabasco said...

Keith, can you please get rid of all those old polls at the bottom right of the page? They make it a total pain in the a$$ to load the page each time.

Anonymous said...

So shouldn't there be a premium on US Treasury rate if tax payers have to bail out the banks for the bad loans they made.

In the 1980 when the government bailed out the Saving and Loans didn't interest rate on US Treasury shout up.

Anonymous said...

Greenspan: Give Hummer Owners Financial Aid

KEVIN FREAKING | December 16, 2007 05:30 PM EST | AP

WASHINGTON — Alan Greenspan, former chairman of the Federal Reserve, suggested Sunday that a tax break or other government financial help for Hummer owners facing the gas crunch would be the best political fix for the economy.

He cautioned against meddling with gas prices or fuel economy rates to address the gasoline problem.

Greenspan did not specifically call for a tax cut. Instead, he called for the government to apply money to the severe Hummer market slump. Such a cash infusion would typically come through a tax break or a new government spending program.

"Cash is available and we should use that in larger amounts, as is necessary, to solve the problems of the stress of this," Greenspan said during an appearance on ABC's "This Week."

Anonymous said...

Is Greenspan suffering from dementia? He's is making David Learah look like a genius.

Anonymous said...

WASHINGTON — Alan Greenspan, former chairman of the Federal Reserve, suggested Sunday that a tax break or other government financial help for homeowners facing the mortgage crunch would be the best political fix for the economy.
----------------

Doesn't he know that scores of local and county govt's are going to have MASSIVE tax short falls in the short term????

Doesn't he know that the Bush Admin spends every dollar on Iraq and none for the locals to keep infrastucture running?

Where will Greenscam get this funding????

Anonymous said...

Whatever happened to leaving the market alone, you decrepit old gasbag?

Anonymous said...

NYT -- Paid in Dollars, Some Americans Are Struggling in Europe

With plunging exchange rates, American expatriates whose pensions or incomes are paid in dollars are scrimping. No more dinners out when a bottle of Perrier for 3.50 euros translates to $5 and no more holiday shopping binges when a shiny iPod for 159 euros is equal to $230. Ultimately, some are moving to greener pastures that match the color of their money.

“Those that can hold out are holding their breath and we’re hoping for a return of the dollar, but those that can’t are going,” said Susie Bondi, an American who has lived in Paris for 12 years, but is moving to Vienna in January with her husband, Fred, to stretch their pension dollars in a city with a lower cost of living.

The last six months have been anxious for expatriates, with the dollar sinking against the euro, the pound and currencies like the Czech koruna and the Costa Rican colón. The declines are accelerating the flight of expatriates in Europe, according to tax lawyers who listen to the problems of clients who are giving up because they see no relief in sight.

Even United States government employees are feeling the pinch in countries with strong currencies like the Czech Republic, where the koruna has gained 17 percent this year against the dollar.

The impact of the sagging dollar has been particularly acute for expatriates who live on fixed pensions paid in dollars, or self-employed workers whose clients are largely based in the United States.


http://tinyurl.com/ynnmgo

Anonymous said...

Yup, simply "throwing good money after bad", at this point. Bush and his cronies intentionally milked the dying cow for every last drop of milk (and blood) that it had, aiding it's demise...

In an eloquent and concisely-worded editorial (called "After the Money is Gone") that appeared in the New York Times, Paul Krugman explains that the current credit/liquidity crisis is not simply a result of a temporary loss of CONFIDENCE, but a n actual crisis of SOLVENCY.

In other words, the problems that are ravaging our economy are real: we're bankrupt, and there's no solution to the problems created by decades of graft.

http://tinyurl.com/yrkrx2

The sad part is, not even someone like Ron Paul could do anything to stem the inevitable outcome that's been set in motion.... The problem is bigger than our Federal government.

Anonymous said...

Lil' Frankie Muniz has made some big real estate deals in the past. Since he was a teen he's been buying and selling property, but TMZ is told that Muniz may not be a real estate prodigy in terms of making a profit. Life's unfair!

Frankie Muniz
The "Malcolm in the Middle" star has just listed his 1,972 square foot, five bedroom and four bathroom Hollywood Hills home for sale -- and according to the LA Times it's going for a little under $3.9 million dollars. But property records indicate Muniz purchased the house in January of 2006 for almost $3.5 mil. According to TMZ's sources, Muniz did "extensive upgrades" on the home.

mhrist said...

Don't wanna offend but do you really think anyone has any choice whatsoever? I mean America + Dev Countries has been going down the rabbit hole for so many years now. You think you are Alice? You are gonna get teleported back at the end of the adventure?
Let me break it for the slower ones: you are screwed! There are a few people around that can survive in any environment, read King Rat, and the rest are just filler. I mean most of the people here seem 1-skill kind of person, as witnessed by 'should i buy now' and 'where should i invest' crowds. This skill is usually for today's world. If you have to milk a cow, that is it. Half wouldn't know what a cow is and what it looks like, the other? Probably wouldn't know where to start because making someone sign a piece of paper is not like finding a tittie and milking it.
Like I was in jail, and some guy wanted to paint. Now, you don't get painting material in jail! But he got Skittles. So he melted them with hot water and he used them to paint with all the colors of the rainbow.
Another guy would find used gloves, blow on them(like a balloon) and put them in a cloth... the best pillow.
And don't even start me on making a domino or a 52 cards out of used milk cartons and a pen.

And you think you have a chance?

Just to say, if you buy stocks & dollars - you are boooom. Dollar is dead, stocks will be trading for pubic hair ala Borat. Gold? People that know how to draw with Skittles will be over your ass! Gold? Umm, having gold around people that don't have anything but guns and hungry families is pretty bad. They start looking at you all hungry and you might get in a lot of trouble. You might need people to defend you, and this costs resources. And maybe the defender, since hungry, might move on you.
In any event,I can feed 10 people with 2 eggs, 1 spoonfull of flour, and some vegetable oil, which I can take from sunflower seed. How many can you?

And you talk about sheep... I've been a sheepherder, and let me tell you, sheep you milk, get the wool from, and get some meat from. What is it from you? Libertarianism? Nobody likes opinionated sheep without the wool, meat, and milk! What do you bring? Presence, screw you, there are 5 billion without!

Ohh, but of course, Smith, and Keynes, and Friedman will save you. Dumbasses. It is like reading Socrates for the political stage today.The guys were smart, but they actually looked around and came up with PRESENT-day solutions. You? Just reading 2000 year old teachers! See, philosophy is not what Socrates tought about ancient Greece, or Marx about feudalism and monarchy... No, it is the study of thinking, of seeing and deducting. Ancient Greece is not America today, nor is feudal Europe, or Monarchy England and Russia. They are trying to teach you to deduct. Logic as it is called. Idiots.

Marty

P.S. And don't get me started with the Tulip guy! Let me enlighten you: tulips are way away from SIV, MBS, ABS, CDs, TB, 401(k), GSEs, IRA, CDS, CDO etc. etc. etc.

P.S.S. And oil! I can't even imagine the consequences and I am so smart :(

Anonymous said...

Like I said before, I lived through the LA Riots, up and close.

To all of you who live in a plastic bubble (like you Tucker Carson), you have no idea what it's when the excluded class gets pissed at the entire system.

Good luck!

Anonymous said...

Why is that old fool still yapping away?

Anonymous said...

Keith,

I am an HPer and I have been following the long drawn debate on the taxpayer bailout. You know what, Greenspan is right - There should be a bail-out but it should start right from the top. What I mean is since he cares so much about poor Americans losing their homes why doesn't he lead by example and start donating all his speech fees to the cause. Every cent of it. Let's face it the subprime problems started on his watch and if he was in the Army he would have been court marshalled or even shot. The same goes for everybody calling for a bail-out including Congressmen who should also start donating half their salary and net assets to the pot. It's called leading by example and it's about time we had some hard cash from the good samaritans. Not empty words.

Ed said...

http://www.usatoday.com/money/econo
my/fed/2004-02-23-greenspan-debt_x.htm



"American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage," Greenspan said.

Joseph McKenzie, deputy chief economist at the Federal Housing Finance Board, says buyers like the stability of fixed-rate mortgages, but there is increasing flexibility in products. "There are lots of innovative programs, especially targeting low-income and first-time buyers," he says.



Un fucking real.

LauraVella said...

WASHINGTON — Alan Greenspan, former chairman of the Federal Reserve, suggested Sunday that a tax break or other government financial help for Hummer owners facing the gas crunch would be the best political fix for the economy."



This is a joke - right?

Anonymous said...

Remember the last two Presidential elections? Bush/Gore and Bush/Kerry both said Sir Alan Greenspan was a genius and they would never consider going elsewhere for economic guidance and advice.

I didnt hear anyone laughing back then. And it is a laughable outlook or belief regarding Greenspan and the domestic economy.

This crash has been ongoing for years. It's been a case of primitive accumulation devouring the real physical economy and booking debt as assets.

It's FDR time that's the only solution.

LauraVella said...

Anon said:"There should be a bail-out but it should start right from the top. What I mean is since he cares so much about poor Americans losing their homes why doesn't he lead by example and start donating all his speech fees to the cause. Every cent of it."


I agree, what an excellent idea!

Anonymous said...


When Clinton tried to appoint a liberal to the Fed the republican Congress stopped him.


Did this happen in your delusional retarded liberal mind? Clinton had a Democrat Congress the first two years of his pResidency and only managed to raise taxes on the middle class and increase welfare spending along with burning 80 women and children to death.

Anonymous said...

LauraVella said...
WASHINGTON — Alan Greenspan, former chairman of the Federal Reserve, suggested Sunday that a tax break or other government financial help for Hummer owners facing the gas crunch would be the best political fix for the economy."



This is a joke - right?

December 17, 2007 2:16 PM

Keep in mind that Alan Greenspan is clinically insane. Gr

Bitterrenter said...

1. Clinton didn't increase welfare though I know how you walking brainstems think welfare is 90% of the taxes you pay.

2. Bush had a republican Congress for the first SIX years and only managed to triple the national debt and preside over the housing bubble. Oh yeah, he started a trillion dollar war too, based on lies.

PS. The Koresh people burned because of their own arson. Just remember, if an ATF agent shows up at the door and you shoot one, you'll probably have to deal with the authorities. Besides, most of the people at the Koresh compound were on welfare. You should be glad they're gone.

Anonymous said...

Death Penalty.

Sick and Dying America

Anonymous said...

So bitteridiot liar, who was the liberal that Clinton tried to appoint to the Fed?

Should we still give Communism a try? After all, it hasn't been given a chance, right? I can't wait for you old hippie bastard baby boomers to die off so we can begin to fix things. You old dinosaur cretins have caused enough damage to the world.

Anonymous said...

Can't we just exile him to Elba or St. Helena?

Bitterrenter said...

http://www.fmcenter.org/site/pp.asp?c=8fLGJTOyHpE&b=253239

In some respects, the story of who President Clinton didn't nominate is as instructive as the story of who he named to the Board. During his first term in office, Clinton backed away from two Fed appointments in the face of heavy criticism from Senate Republicans and some segments of the financial industry.

There's really no measure as to capitalism's success since there are few, if any, capitalist countries. Most have adopted a good measure of socialism without which the world would be even more violent and revolutionary.

But if you use individual success as a measure, the fact that over 90% of new capitalistic ventures fail within the first year should tell you something.

If by fix things you mean revert to a more savage, radically individualistic system, well, that was tried for centuries. Most people didn't like monarchy or feudalism. I don't think they'll embrace any new attempts to reinstate them.

I'm truly convinced you rabid capitalists would have enjoyed living in ancient Egypt when one guy had all the money and everyone else worked themselves to death building him a pyramid in the hot sun.

It's too bad we liberals didn't sit back and let people fester in poverty during the Depression. A few more years and we would have aligned with the Soviet Union and the right side would have won the Cold War. Instead, we allowed Roosevelt to inject us with heavy doses of socialism which saved the country but led to spoiled, ignorant people like you who think it was your ancestors hard work that led to your often minimal standards of affluence.

Tedy Jewski said...

It's time to throw Greenspan and Bernanke into the oven.

Anonymous said...

I "can feed 10 people with 2 eggs, 1 spoonfull of flour, and some vegetable oil"

Is that you Jesus? Last time I heard of a trick like that it involved loaves and fishes.

Peter said...

After more then 30 years of conservatives basically running things in the USA- both socially and economically- and this includes Clinton who was basically Reagan Lite- with trickle down supply side economics, its refreshing to see now that in a new world order, with increasing numbers of Americans (many aging)without adequate health care, no pensions and little saved- the chickens have come home to roost. I love it when someone calls baby boomer's 'old cretins' in this new conservative Social Darwinist order in which only the strong shall survive? Sounds like Nazi Germany in 1935.

$4.00 gas by spring, soaring health care costs in which the conservatives have avoided reform for decades, inflation increasing,falling stocks, housing bust-----well I love it!

And guess what the fall could not have come at a better time- exposing the myths of the last 30 years.

Anonymous said...

You just got o love your neo liberlas, crying out for a non interventive state and wanting de regulation of markets. When their "invisible hand" starts working, they´re the first ones to ask for daddy State to help..

Ed said...

When Clinton tried to appoint a liberal to the Fed the republican Congress stopped him.

-----

Put the crack pipe down. Clinton never nominated anyone.

Anonymous said...

Is Peter bitter idiot's long los communist brother?

fuck off both of you

Bitterrenter said...

Put the crack pipe down. Clinton never nominated anyone.

Between 1993 and mid-year 1999, President Clinton nominated six governors as well as reappointing Alan Greenspan to a third term as Fed chairman. Clinton's first two appointees were confirmed by a Senate with a Democratic majority. His subsequent nominees have been confirmed by a Senate in Republican hands. On August 5, Clinton nominated bank executive Carol Parry to the Board.

With his nomination of one more individual to fill the current vacancy on the Board, Clinton will rank third (along with Ronald Reagan) among all presidents in the number of governors he has appointed to the Board.

http://www.fmcenter.org/site/pp.asp?c=8fLGJTOyHpE&b=253239

Try clicking on the links next time.

Anonymous said...

You dimwitcrats are a funny bunch of idiots. Anyone to the right of Pol Pot is considered a conservative.


As for bitteridiot, since Clinton appointed six Fed governors, he is responsible for the dotcom and housing bubble. He also didn't even try to replace Greenspan, so stop lying.

Bitterrenter said...

Face it. Conservatism has failed AGAIN.

I still think we need to go Stalin on them this time. No more just taking their power away for 40 years. We must get rid of their genes.

Anonymous said...

I wish I was putting that medal on him, so I could squeeze that ribbon tight like a tourniquet.