Gossip Rocks Forum - View Single Post - Greenspan sharply criticizes Bush policies in memoir

sluce · September 17th, 2007, 01:35 PM

I disagree. I felt Greenspan did a great job and what was expected of him. He manages interest rates and expectations based on reality which is more than we can say for the President. He often made comments that the national debt and government spending needed to be controlled and would have a major impact on the nations economy. he warned against the adjustable rates and lessened credit standards to obtain a mortgage. No one wanted to hear it because they wanted to celebrate as people became home owners for the first time and took on more debt than they could repay. He warned that 7 out of 10 Americans are living pay check to pay check and are not prepared for retirement. No one wanted to listen before. Now that foreclosures are out of control and things are turning people are ready to listen.

September 17th, 2007, 01:35 PM	#4 (permalink)
sluce Elite Member Join Date: Oct 2005 Location: In search of non disfigurated fatherwood Posts: 7,164	I disagree. I felt Greenspan did a great job and what was expected of him. He manages interest rates and expectations based on reality which is more than we can say for the President. He often made comments that the national debt and government spending needed to be controlled and would have a major impact on the nations economy. he warned against the adjustable rates and lessened credit standards to obtain a mortgage. No one wanted to hear it because they wanted to celebrate as people became home owners for the first time and took on more debt than they could repay. He warned that 7 out of 10 Americans are living pay check to pay check and are not prepared for retirement. No one wanted to listen before. Now that foreclosures are out of control and things are turning people are ready to listen.