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View Full Version : Greenspan testifies about the economic meltdown


JohnnyMack
10/23/2008, 02:31 PM
http://biz.yahoo.com/ap/081023/financial_meltdown.html?.v=9


The longtime Fed chief acknowledged under questioning that he had made a "mistake" in believing that banks in operating in their self-interest would be sufficient to protect their shareholders and the equity in their institutions. Greenspan called it "a flaw in the model that I perceived is the critical functioning structure that defines how the world works."

Interesting. Cause I thought this was all the po' folks fault.
Scott D
10/23/2008, 03:45 PM
it is, because po' folks wasn't using the banks as much as they should have. Don't you know anything you dirty heathen lib.
soonerhubs
10/23/2008, 05:45 PM
Is the bail out not welfare for the rich as much as TANF is welfare for the poor? I don't know who to attack on this, so one of you folks tell me the side to take. :D
Sooner_Havok
10/23/2008, 05:47 PM
Is the bail out not welfare for the rich as much as TANF is welfare for the poor? I don't know who to attack on this, so one of you folks tell me the side to take. :D

Take SicEm's side...I'm thinking of joining it:D
soonerscuba
10/23/2008, 05:59 PM
Is the bail out not welfare for the rich as much as TANF is welfare for the poor? I don't know who to attack on this, so one of you folks tell me the side to take. :DFor perspective, it would take about 42 years for an equivalent amount of TANF funds to match the bailout. It's hard to say whether or not TANF is a success in that the definition of success for the program varies from person to person, I do think it was a step up from AFDC.
soonerhubs
10/23/2008, 06:36 PM
For perspective, it would take about 42 years for an equivalent amount of TANF funds to match the bailout. It's hard to say whether or not TANF is a success in that the definition of success for the program varies from person to person, I do think it was a step up from AFDC.
You didn't give me anyone to blame. Can't you see there has to be someone to Demonize? Now step to it. ;)
soonerscuba
10/23/2008, 06:43 PM
You didn't give me anyone to blame. Can't you see there has to be someone to Demonize? Now step to it. ;)Mormons.