Word: greenspan
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...Board in 2002, his only brush with politics had been a stint on his local school board. Before the markets went haywire, he was building a reputation at the Fed as a collegial and unassuming technocrat who had none of the cult of personality that had swirled around Alan Greenspan - and he actually tried to make himself understood...
...Former U.S. Federal Reserve Chairman Alan Greenspan argued that bubbles could only be recognized in hindsight. But investors - who have been well schooled in the dangers of bubbles over the past decade - are increasingly wary that prices have risen too far, and that the slightest bit of negative economic news could knock markets for a loop. These fears are compounded by the possibility that Asia's central bankers will begin taking steps to shut off the money spigots and bring the party to an end. On July 29, rumors that Beijing was on the verge of tightening credit sent Shanghai...
...other forms of financial regulation, many conservatives long thought that few, if any, were needed, but the crisis has changed some minds. Alan Greenspan's famous October admission that his antiregulation ideology had failed was a landmark on this front. Federal judge and Chicago Law School professor Richard Posner's new book, A Failure of Capitalism, is another. In it, Posner fingers financial deregulation as a major cause of the crisis. He's less clear about what we ought to do now, although one of his suggestions very much fits the crude-measure standard: we should consider raising income taxes...
...regulated global economic affairs with a swiftness and decisiveness that governments couldn't match. And then, as debt markets began to freeze up in 2007, suddenly markets didn't do any of these things. "The whole intellectual edifice collapsed in the summer of last year," former Fed chairman Alan Greenspan said at a congressional hearing in October...
Almost every analyst or forecasting group of any substance has offered opinions over the last few weeks, regarding the performance of the economy for the last half of this year. Paul Krugman, Alan Greenspan, Paul Volker, and several other members of the Fed, posted their forecasts. The CBO and FOMC issued long reports weighed down with unimaginable data and their projections...