Jun 11th 2010 2:00PM
This week marks the fifth anniversary of then-Federal Reserve Chairman Alan Greenspan's observation that there was no housing bubble to worry about: "Although a 'bubble' in home prices for the nation as a whole does not appear likely, there do appear to be, at a minimum, signs of froth in some local markets where home... Continue Reading »
Apr 8th 2010 8:30AM
Testifying yesterday before the Financial Crisis Inquiry Commission, former U.S. Federal Reserve chairman Alan Greenspan defended his 21-year tenure at the Central Bank, saying it wasn't he who inflated the housing bubble that caused the Great Recession. While mistakes were made, Greenspan admitted, he claimed to have... Continue Reading »
Apr 7th 2010 12:00PM
It's not my fault. That was the message Federal Reserve Chair Alan Greenspan brought to the Financial Crisis Inquiry Commission this morning. He didn't budge from that script even as commission chair Phil Angelides, former Treasurer of California, pushed back with evidence that Greenspan – under oath – wasn't... Continue Reading »
Jan 7th 2010 1:10PM
Give the Federal Reserve some credit. Not only is it (for now) propping up a broken mortgage finance system with a trillion-dollar-plus commitment to buy mortgage-backed securities from Fannie Mae, Freddie Mac, and Ginnie Mae, the Fed is also combing through its regulations to fix glaring vulnerabilities, so the current... Continue Reading »
