Tag Archives: chairman alan greenspan

Conservatives Shocked That Markets Weren’t Adequately Regulated

Here’s a chortle from the liberal Detroit Free Press: A paragraph from a Friday cbsnews.com story on former Federal Reserve Chairman Alan Greenspan says it all: “Greenspan…said that he and others who believed lending institutions would do a good job … Continue reading

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Henry Waxman Grills Alan Greenspan

The current financial meltdown is not a morality play. There’s not one collection of bad guys. Rather, there was global risk-taking that has dramatically gone wrong. Bankers and other financial institutions lent recklessly. They did not look out for their … Continue reading

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Reforming The World’s Financial System

Here’s the view from Jamaica: The Editor, Sir: We are being continuously bombarded by amazing developments out of the unfolding world financial and economic crisis. One of the latest was former Fed Chairman Alan Greenspan’s contrite admission before the United … Continue reading

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More Bailouts For People Who Can’t Afford Their Homes

Senator Charles Schumer is not convinced that banks receiving bailout money should keep paying dividends to their stock owners. Schumer says the government should expect more from banks in exchange for financial help. The politicians want to do something about … Continue reading

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Foreclosures Way Up

NPR reports: FDIC Chairman Sheila Bair on Thursday suggested that the government guarantee mortgages as a means of avoiding foreclosures, a move that could help banks and homeowners. Bair told the Senate Banking Committee that the Federal Deposit Insurance Corp. … Continue reading

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Barney Frank Comes Home

Report: With the country trying to keep from drowning in the subprime/Wall Street crisis, the local congressman had come home to talk in a non-Bill O’Reilly format about the causes and potential ways out. It was typical Barney, down to … Continue reading

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Investigating Obama’s Mortgage Plans

Report: In 1996, the Department of Housing and Urban Development required that 12 percent of mortgage loans be made to borrowers with less than 60 percent of their area’s median income. This was increased over time to 28 percent (by … Continue reading

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What Are Derivatives & Should They Be Regulated?

From the USA Today: Here is a look at how Congress’ actions on two key fronts became significant factors in the financial crisis: 1. Not checking derivatives In 2000, a united financial services industry persuaded Congress to allow a vast, … Continue reading

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A History Of Banking Crisis

From the Australian: IN 1772, the collapse of the Ayr Bank led to the Edinburgh banking crisis of that year. Only three of Edinburgh’s 30 private banks survived. In 1999, then president Bill Clinton instructed the Fannie Mae Corporation to … Continue reading

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Federal Reserve Wants New Lending Regulations

Proposed rules made public in December would: _restrict lenders from penalizing risky borrowers who pay loans off early. _bar lenders from making loans without proof of a borrower’s income. _prohibit lenders from engaging in a pattern or practice of lending … Continue reading

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