Greenspan concedes mortgage dilemma
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Former Federal Reserve Chairman Alan Greenspan acknowledges he failed to see early on that an explosion of mortgages to people with questionable credit histories could pose a danger to the economy.
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U.S. Federal Reserve Chairman Alan Greenspan said on Tuesday that he did not foresee big price distortions developing in home prices and said Americans were handling their debts well.
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Former Federal Reserve Chairman Alan Greenspan was quoted as saying on Thursday that a recession in the United States is possible, though not probable this year as inventory problems in the economy are being addressed quickly, Bloomberg reported.
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Investors' appetite for U.S. assets will eventually dwindle and the United States must reduce its budget deficit to prevent major economic damage, Federal Reserve Chairman Alan Greenspan said on Friday, in remarks that hit the dollar hard.
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US Federal Reserve Chairman Alan Greenspan said on Tuesday that he did not foresee big price distortions developing in home prices and said Americans were handling their debts well.
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Former Federal Reserve Chairman Alan Greenspan said on Thursday the Fed's decision to cut interest rates this week had lowered the risk of a U.S. recession, although chances were still above one in three.
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Investor's Business Daily - Ex-Fed chief Alan Greenspan doubts the central bank's ability to prevent a U.S. recession. He put the chances of a recession at 50%. He said real long-term rates have much more influence over economic activity than national decisions, while central banks have "less and less power to influence long-term rates." The Fed cut rates half a point 15 3% on Wed. after last week's emergency 75-basis-point cut.
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Alan Greenspan on Tuesday defended one of the most tangible results of his tenure as chairman of the Federal Reserve Board: the big increase in homeowner debt.
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JACKSON, Wyo. - Federal Reserve Chairman Alan Greenspan said Friday that the country will face "abrupt and painful" choices if Congress does not move quickly to trim the Social Security and Medicare benefits that have been promised to the baby boom generation...
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A bottom has been hit in the decline  of U.S. home sales, said former Federal Reserve Chairman Alan  Greenspan on Wednesday.
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U.S. Federal Reserve Chairman Alan  Greenspan said on Tuesday that he did not foresee big price  distortions developing in home prices and said Americans were  handling their debts well.
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Lenders will have to confirm that a borrower can afford a mortgage before making a loan under protections proposed by the Federal Reserve on Tuesday, following defaults and losses on U.S. subprime mortgages this year.
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An unusually high degree of risk  taking across asset classes made recent financial market  turmoil all but inevitable, former Federal Reserve Chairman  Alan Greenspan said on Sunday.
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Bloomberg - Aug. 28 (Bloomberg) -- Republican presidential candidate Mitt Romney said the U.S. Federal Reserve is taking the right steps to address turmoil in world markets spurred by a subprime- mortgage collapse and record housing defaults.
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There is little reason to fear a wholesale pullout by China out of U.S. government bonds, former Federal Reserve Chairman Alan Greenspan said on Tuesday.
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WASHINGTON -- Former Federal Reserve chairman Alan Greenspan said allowing more skilled immigrants to work in the United States would help keep the income gap from widening.
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The easy money is making a quick exit out of risky mortgages.