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Stock indexes were unable to hold onto their morning gains on Wednesday, ending the day down about 0.5%.To begin Thursday, that decline looks set to continue as the morning news is grim, and a Jobless Claims report failed to indicate any turnaround in the labor market. Just before 8am EST, Dow futures...
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To say that America is ticked off at everyone who played even a tiny role in the current economic mess doesn't even begin to tell the story. We are angry, hurt, scared, and feel powerless to do anything to punish a bunch of people we expect will ultimately take the money and run. Bless Time Magazine...
Posted to
MND NewsWire
by
Jann Swanson
on
Tue, Feb 17 2009
Filed under:
Filed under: Alan Greenspan, president bush, David Lereah, alan greenspan, financial crisis, financial crisis, president bush, david lereah, angelo mozillo, angelo mozillo
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High amounts of risk taking prior to the credit crisis were likely to have dire consequences, but it has turned out to be much broader and more damaging than anything former Federal Reserve Chairman Alan Greenspan imagined. In his prepared testimony to U.S. lawmakers, the former Fed chairman called the...
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In prepared testimony to be delivered to the House Oversight Committee, former Fed Chairman Alan Greenspan called for more regulation of the financial system to address the breakdown of the markets. "What went wrong with global economic policies that had worked so effectively for decades? The breakdown...
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Speaking at an event in Washington, D.C., Former Fed Chairman Alan Greenspan said that a market recovery will happen "sooner rather than later" . Delivering remarks on 'Markets and the Judiciary' at an event organized by Georgetown University, Trichet said that the "market freeze...
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Americans are scared about their money, a fear being reinforced every day as banks are closed , stock prices fall, home equity shrinks, and politicians fight over which financial institutions are "too big to fail" and which are going to be cut loose to live or die without government intervention...
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Speaking in an interview with Bloomberg TV, former Federal Reserve Chairman Alan Greenspan said the current problems of Lehman Brothers can be solved without having to resort to a bailout by the Fed. Greenspan cautioned that the Federal Reserve should not become the "overseer of financial stability...
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Former Federal Reserve chairman Alan Greenspan offered a bit of optimism about the housing market in an interview this week with David Wessel of the Wall Street Journal. Greenspan said that he expects housing prices to begin to stabilize in the first half of 2009 although they could continue to drift...
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In an interview on CNBC, Former Federal Chairman Alan Greenspan warned that if the Federal Reserve is given a role to oversee the financial system it could undermine its credibility. Greenspan, in the interview, said the American economy is holding up rather well. He credited the resilience of non-financial...
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The S&P/Case Shiller house price index, data from the OFHEO and the Richmond Fed's manufacturing report will highlight the U.S. economic releases as Canadian markets receive employment insurance data and comments from Finance Minister Jim Flaherty. At 7:45 a.m. EDT, ICSC chain store sales will be released...
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Speaking via satellite to a conference in Johannesburg, Former Fed Chairman Alan Greenspan said the financial market crisis will continue for some time, and could last well into 2009 . The data implies the U.S. economy is on the brink of recession, said Greenspan, citing forecasts for very sluggish growth...
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Canadian manufacturing shipments and first quarter labour productivity data will top the Canadian economic news of the day, but all eyes will be on the release of U.S. consumer prices and the University of Michigan's consumer sentiment index. At 8:30 a.m. EDT, Statistics Canada will release April manufacturing...
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Speaking at an economic forum in Mexico City, Mexico, Former Fed Chairman Alan Greenspan said that while he has seen a pronounced turnaround in March, the market turmoil may get worse before a recovery sets in. Greenspan said that he still sees downward pressures from housing, adding that "prices may...
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Speaking in an interview with the Financial Times on Monday, former Fed Chairman Alan Greenspan said the chance of a recession in the United States was above 50% but that probability was pulling back somewhat. Greenspan also said it was too soon to tell whether the worst of the financial crisis was over...
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Inflation is not yet out of control in the United States, according to former Fed Chairman Alan Greenspan , speaking via satellite link to a conference in Athens, Greece. Nevertheless, the markets are moving towards a more inflation-prone environment, added the retired central banker. Greenspan also...