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Thanks for the heads-up, Greenspan
It seems like fed chair Ben Bernanke has a new friend. Alan Greenspan praised his handling of the subprime crisis in a CBS 60 Minutes interview to air this Sunday.
Some have said that Mr. Greenspan would have handled this crisis slashing interest rates without blinking an eye. But Alan says that times are different, that inflationary pressure is more significant now, you know. Oh! He also mentioned this one interesting thing: He said that he knew about the questionable subprime lending tactics that were going on, but ye "really didn't get it until very late in 2005 and 2006." Get what? Oh, just that it wasn't going to have a happy ending.
Who could have guessed, right?
Posted on September 14, 2007 4:49 AM PT | Permalink
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