March 24, 2008

Hillary Clinton has a massive brainfart, calls on Alan Greenspan (who created the housing mess) to head a special panel to solve the housing problem


Monkeys I tell ya.

Monkeys.

Go away Hillary. Go home. You're no longer needed around here.

Clinton calls for panel on housing woes


Democrat Hillary Rodham Clinton called on President Bush on Monday to appoint "an emergency working group on foreclosures" to recommend new ways to confront the nation's housing finance troubles.

The New York senator said the panel should be led by financial experts such as Robert Rubin, who was treasury secretary in her husband's administration, and former Federal Reserve chairmen Alan Greenspan and Paul Volcker.

43 comments:

Anonymous said...

Interesting she called for Paul Volcker to join the panel... Maybe he'll suggest running the Fed rate up to 20%+ again. :-)

Which at this point, is a better idea than the race to zero that it's currently on...

Veronica Lodge said...

RE: Hillary Clinton has a massive brainfart, calls on Alan Greenspan (who created the housing mess) to head a special panel to solve the housing problem...

Ha, ha, ha! That's a good one!

Anyway, here are 27 REASONS why there is no hope of turning the economy around.

Hillary Clinton -- what a joke!

V.L.

Charles said...

I've at times wondered if Greenspan wasn't a Manchurian candidate.

His writings preFED endorsed the gold standard and he was an economic libertarian. Very much in contrast to the FEDs historical role as all Libertarians despise the idea of a central bank.

Being that he broke the FED so badly maybe it was intentional???

Anonymous said...

DOW is up!!!

Yeepee, seems like were heading for a recovery. Great news isn't it HPers?

:)

Democraatus said...

Doing the same thing over and over again expecting different results is insane.

Democracy is killing itself with dumb voters.

Anonymous said...

We all know how this is going to end. The panel recommends the government take on all risk associated with the mortgage problem.

The Fasco-Corporate Government acquires all debt providing the bankers with a nice profit for their trouble then prints money to pay for the deal.

Anonymous said...

Great let's get Greenslime, the douchebag that is most responsible for the eezy-credit binge to come in and solve the problem. The guy that makes B-52 Ben Bernanke look like a liquidity amateur.

How does she even think that old fart Greenslime will live long enough to chair a housing bubble resurrection panel?

Anonymous said...

I am wondering how effective that could be. Sure, put these individuals into a financial think tank and they can come up with some proposals I am sure but how likely will anything coming from these three (great solutions or not) be popularly accepted?

Volcker draconian raise of rates will probably freak people out, though I think that may be a better approach than the race to zero as previously mentioned, but I think this is a very unpopular view for the general public.

Greenspan's already getting a lot of blame for the bubble mess we're in now anyway; I mostly disagree with this----he even gave a speech identifying his concern about low rates and the reactions of wall street---keyword search, 'irrational exuberance' and you should find an almost phrophetic line of questioning surrounding the possible dangers of sustained low inflation.

More concerning is a strategic approach toward the derivatives market. This seems to be the unexploded time bomb looming on the horizon.

Anonymous said...

ha ha ha ha ha

ha ha ha ha ha

nasdaq up 3.5% today

new home sales surge in february

once again the HP losers...LOSE

Nick said...

Didn't these guys help cause the problem (Greenspan) or benefit from the bubble on the way up (Rubin)?

So will Volcker recommend 20% interest rates while Greenspan recommends less than 1% rates?

Sounds like a traditionally-unproductive panel of experts paid for by tax dollars deciding how best to plan future profits for private corporations.

Anonymous said...

GO AWAY BILLARY!

guy n. cognito said...

i was more worried about Rubin's name on there. he's the f*cking mental retard on that list.

and Charles has a point, maybe Greenspan did sabotage the FRB intentionally- brilliant!

Hillary for president said...

Al-Keeferoonie,

While squatting in the property stolen by the dumb a$$ Hungarians from the late Senator Tom Lantos’s family, I highly recommend that you get the hell outta there before your body begins showing signs of Dracula symptoms.

Hillary will be the President of the USA for the next 2 terms, that is for sure.
The question is how does one position their financial portfolio now, to prepare for this change.

IMHO, the day Hillary is formally recognized as the Democratic candidate is the turning point on Oil prices.

Both Bush and Mr. Empty suit Obamah are a bet for higher oil prices.

Hillary is a bet on energy independence.

PS. Russia treated the Hungarian rebel rousers in ’56 much nicer then the Hungarians treated their fellow citizens ten years prior.

PPS. Hungary is doomed forever.

Ed said...

Hillary Clinton go away? But Keith, she is a member of the Democrat party. The party you, and your fellow travelers endorsed with such zeal in 2006. How could she possibly be so wrong when a mere 18 months ago you were cheerleading her and her cohorts to take over?

And the MESSIAH OBAMA, you current politcial crush is even worse. For every $1 Hillary would spend to bail out housing, the MESSIAH OBAMA would spend $2.

Ahh but the MESSIAH OBAMA would bring about change. So I guess it all must be worth it.

Anonymous said...

"new home sales surge in february"

Is this the data to which you're referring? Run along now, the rest of the lemming herd is heading for yonder ledge.

eric in vegas said...

"new home sales surge in february

once again the HP losers...LOSE"

Surprise surprise, when people lower the price by a significant amount instead of holding at their wish price they can sell their property!

"The National Association of Realtors said that sales of existing homes rose by 2.9 percent in February to a seasonally adjusted annual rate of 5.03 million units. It was the biggest increase in a year and caught economists by surprise. They had been expecting a small decline.

The trade group reported that the median existing sales price in February fell to $195,900. That was the largest year-over-year drop on records that go back to 1999."

eric in vegas said...

Although I forgot to mention that February sales were still 23% down from Feb. 2007 sales.

Anonymous said...

They want to be very careful inviting Paul Volker to the party. He will have Greenspan groveling on the floor like the lackey he is in the first 15 minutes. Volker would be the best thing that could happen to this country.

Can you say mark to market overnight? Let the dominoes begin? The man is made of iron.

Frank@Scottsdale-Sucks.com said...

Here's my solution to the problem:

Let every last one of these "victims" who "bought" more house than they could afford get foreclosed on. They deserve it, and they knew full well what they were getting themselves into. Yeah, mortgage brokers are lazy scum, but I've absolutely had it with this victim bullshit when it comes to homedebtors.

If you don't make your car payments, the repo man comes and takes it away, no matter that your car salesman was a slimebag and you claim that he tricked you. The same rule should apply here. Like I tell my customers when they try to weasel out of payment then bitch when I ding their credit: If you didn't read the contract, that's not my f*cking problem. You had the terms in front of you - not my fault if you signed without reading.

Besides, in foreclosure they'll get to live in the house for almost a year for free, with no payments, so I think that's more than fair in terms of giving them a financial boost.

DOPES said...

I'M SHOCKED SHE'S NOT USING THE REGULAR BUNCH...

ORANGE MAN, SWANN, LEREAH, CONNIE LEHOOT ETC...

YOU CAN'T FIX JINGLE MAIL!!!

DOPES!!!

Anonymous said...

Robert Rubin, one of the head honchos at ShittiBank, says that the taxpayers need to buy all of the mortgage timebombs from the banks to prevent banks from being insolvent. Of course we all know Greengas enabled this entire mess. The only decent name in there was Volcker, but he'll be out-voted 2-1 on every issue.

Ed said...

Wasn't Rubin part of Slick Willie's administration? And wasn't that the bestest of times economically? Or so the NY Times, ABC, CNN, et al keep telling me. So if he's on the committee, all will be well. And if we only had the courage to elect a woman president, why then it would be like the good old days with Clinton and Rubin running things. Maybe then yahoo will be at $400 again and pets.com will make it's triumphant comeback. Boy oh boy, I can't wait.

Anonymous said...

Jezus. Was Dan Quayle busy?

How about some economists with a clue? Like ones who were right about things all along?

Ones who actually care about doing the right thing for normal people, not necessarily saving the "system"---if the system {and high extractive profits to those involved} doesn't deserve to be saved.

if you put bankers on the panel, you will get answers that save the banks and screw the people.

I'll suggest Edwards. We need somebody who can sniff out BS-in-a-nice-expensive-suit and expose it for the shite that it is.

What we need now isn't economics, but justice---we need an out-of-control special prosecutor here to instill some serious fear into the pigmen.

In any case it doesn't matter economically.

The People's Bank Of China is the one sharpening the snapper turtle skewer.

SeattleMoose said...

Hillary takes her orders from the Bilderbergers...

She WILL win the presidency unless there is overwhelming support for Obama that can't be miscounted, smeared, or other stolen...away.

anon said...

>> The New York senator said the panel should be led by financial experts...

PLEASE - NO MORE EXPERTS! These "experts" are the ones who got us into this mess! FUCK THE EXPERTS! We need ordinary working folks with common sense!

Anonymous said...

next major stop in the deflationary cycle as the unwashed masses cut back big time on their spending... corporate pay/perks (as always, just IMHO). Die Yuppie Scum.

Anonymous said...

Man, I was going to punish the country by voting for her. Now I would have to say that is cruel and unusual punishment even for the braindead lemmings in this country.

Anonymous said...

"Robert Rubin, one of the head honchos at ShittiBank, says that the taxpayers need to buy all of the mortgage timebombs from the banks to prevent banks from being insolvent. Of course we all know Greengas enabled this entire mess. The only decent name in there was Volcker, but he'll be out-voted 2-1on every issue."

From a financial point of view, this is not a bad idea if the pricing can be had on attractive terms... say you could buy up the whole ball of wax for say 20 cents on the dollar? Even with substantial losses headed this way due to default and after considering the time value of money, the government would make mucho deniro from the ho-moaners - it would be an invisible tax that they would not even know they were paying (kind of like inflation). You'd have a bit of a moral problem given that many of the citizen/ ho-moaners would then be in hock to their government for the very roof over their heads but it would not be the first time the US has sacrificed priciples to make a quick buck. Talk about workin' for the man.... wow.

If I were Uncle Sam, I'd be all over that action at 20 cents on the dollar.

Smug Bastard

Refuse to buy overpriced said...

Hillary is running as the "50/50" canidate, i.e. supposedly she represents the best interests of anyone over 50 years old or anyone making less than $50,000 per year.

But what could be worse than for young people of low income than Paul Rubin's house price fix, which will keep houses unaffordable for an entire generation of working class citizens?

Anonymous said...

Do any financial professionals have the ability any more to post comments without using profane and offensive language?

Anonymous said...

Being that he broke the FED so badly maybe it was intentional???

I'm starting to wonder about this myself. It doesn't take a genius to realize that if you drop the lending rate down to next-to-nothing levels that you are going to damage a fiat currency to a breaking point.

You can count me among the people that now believe that our currency is being collapsed intentionally to bring on the North American Union and the Amero.

Too many of the Fed's actions have just been too bizarre to not be planned to some degree.

GT said...

ok, waiting for the obama brain fart post, please dont disappoint. you've had all week to post his farts!

love ya keefy

Ron Paul said...

Screw Hillary, Obama, and McCain. Vote for me. I'l lget us out of this mess.

Anonymous said...

Hillary's right. She knows that headlines like that gets you elected in the land of the retard Americano. Once she gets elected, all that populist BS she was forced to say will go away, and then she'll be infinitely better president than Mr. Empty Suit Racist In the Closet Obama.

The Clintons are savvy politicians and know very well how stupid Americans are, hence Bush getting elected twice. Hence her increased popularity in the pools against the Messiah of MTV Pot Smoker retards, ghetto welfare parasites, and low life rappers...oh, and celebs who don't know the price of milk or who rent islands for $15k per day and get massages for $3k a pop (all with your money, btw).

See Ron Paul, for instance. He was telling the truth, but truth doesn't elect anyone in the land of the crook and imbecile Americano. Don't blame the Clintons, blame your own culture and low IQ. The Clintons are playing the game with mastery, so she can get elected and then go to work to clean the mess left by Republicans. Means to an end, so to speak.

That's why Ron Paul is getting pounded by every other candidate and ignored by the corrupt MSM. Either you're a politician or not. Telling the truth, being honest, or let the corrupt MSM walk all over you (like Ron Paul has allowed) won't get you far in this country.

That's why you see Obama telling how mad he's about Nafta, while at the same time his economic adviser is selling the country cheap to Canadians, even before getting elected. That's why you see the Clintons giving sh!t back to the corrupt MSM. I don't want sissy presidents. This MSM is so corrupt that when Obama is busted being racist with his nutcase pastor, Anderson Cooper apologizes for some true Americans revealing that disgusting behavior. Michelle Obama already said that she's not proud of her country, while earning over $300k per year to push paper in Washington.

Hillary will be your next president because of all that. Thank god because I'm tired of disastrous Republican administrations and the constant BS speeches of this USA & White People hater Obama. Look at the state of this country right now. That's 7 years of Republicans raping the country. Mr. Empty Suit No Experience Whatsoever Obama doesn't have the capacity or desire to clean the country he and his wife hate so much.

Vote for Hillary.

Anonymous said...

She's the only independent thinker who has been screaming for a year and a half for the fed to do SOMETHING! Bernake sits on his hands and or goes to the blogs for his advice...stupid jerk Bernake.
I called a lender for a quote today and I got a phone message that they were in chapter 11 and no longer doing loans. And I do strictly commercial!
I don't see anyone but Hillary trying to do anything and it's not even her department. Everyone else is asleep at the wheel. We can no longer "let the chips fall where they may" because where they fall is not going to be pretty. Can you say "depression soup lines?" At least SHE is the most fiscally conservative of the bunch. McCanine was asked if he thought the economy is bad and he said "Uh, I heard it was." DOH!

Maybe we can all print Obama dollars and start over. It would be printed with an insignea of "The big give away" no racism intended $$$$$...
He'd say, "Economy? What will I do about the economy? Wait. I'll go ask Hillary and get back to you on that. Also, I'll have to hire Bill because he is a genius and knows how to get us out of this recession." DOH!

Once she figures out Greenspan is all washed up she'll give him his walking papers. At least this is a start to some real problem solving. It beats seeing Bernake on TV looking like he is a deer in headlights and telling us all that it's okay. CREDIT CRUNCH hits and spirals out of control, and he says, "No problem here now. Ain't it grand that the wind stopped blowing?" DOH!

Anonymous said...

To those ignorant dumb downed American sheeple:

The USA is NOT a democracy !

The USA is a REPUBLIC.

"... and to this REPUBLIC, for which IT stands, ONE nation, under God, with liberty and justice for all."


Gawd, the USA is so fucked !

Anonymous said...

If I wanted to prevent the country and the banks from becoming completely insolvement, I would requisition Ron Paul and Warren Buffett to my panel of experts. And I would follow through on their suggestions.

Maybe then we will achieve some level of normality.

Anonymous said...

Rubin and Volcker will tell it like it is.

We all know logic says prices have to crash...

Hillary wants the great minds (all except Greenspan) to manipulate how to best correct this problem without allowing house prices to drop.

The big cheeses will say....
"It aint gonna work"!

Anonymous said...

Rubin and Volcker will tell it like it is.

We all know logic says prices have to crash...

Hillary wants the great minds (all except Greenspan) to manipulate how to best correct this problem without allowing house prices to drop.

The big cheeses will say....
"It aint gonna work"!

Anonymous said...

"..truth doesn't elect anyone in the land of the crook and imbecile Americano. Don't blame the Clintons, blame your own culture and low IQ."

Very nicely put. It's true in most places in the world, but especially so in America.

Anonymous said...

Hilary can't be serious .Don't vote for her .

I don't think that Greenspan knew about the mortgage fraud and liar loans. The only ones that really had inside knowledge about the liar loans were the ones submitting loan applications and the real estate industrial complex (the commissioned salespeople ). The check and balance system went out the window .

A guy at Greenspans level isn't going to get a report regarding the
quality of loan applications .

Greenspans mistake was to keep the interest rates to low for to long and not seeing a speculation market and to much of a global money supply . Greensspan is full of BS when he recently said that raising the rates would of not stopped the bubble . Greenspan likes to blame the problem on the money supply that he claims was out of his control . All he had to do was raise the rate really high and that would of stopped the fake real estate bubble .Greenspan has claimed he didn't get the sub-prime loan thing . Shouldn't a Fed Chairman be aware of loans and lending conditions if they are in charge of keeping credit markets flowing ?

Anonymous said...

Warren Buffett to my panel of experts. And I would follow through on their suggestions.

Maybe then we will achieve some level of normality.


Funny you said that because Warren Buffett, the second richest man in the world, is endorsing Hillary Clinton and not the Messiah Obama. That right there tells you something. Hmmm...tough decision, do I follow the idiotic Bill Richardson or Warren Buffett. Vote for Hillary, Warren Buffett is right.

Anonymous said...

Do really think that the Dems will clean the mess for the GOP before the presidential elections? Get real. Nothing will be done because by the time Hillary is the president, it'll be too late for bailouts since the last big wave of resets are in July 08. Hillary and the Dems know that.

Vote for Hillary because she's better than the other two disgraceful choices. And especially because the corrupt MSM is pushing McCain and Obama. Be a contrarian to the evil MSM, since they pushed the Iraq War and Bush/Cheney, too. If the corrupt MSM is pushing McCain and Obama 24/7, vote for Hillary.