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Pukespan

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Amazing. :angry:

No arm-twisting with near zero interest rates to get banks lending like loonies, borrowers borrowing like loonies and investors forced to suck up on this dross because the rates on fixed interest were being kept artificially low whilst inflation ripped through their investments then?

http://news.bbc.co.uk/1/hi/business/8244600.stm

Market crisis 'will happen again'

Alan Greenspan

Mr Greenspan says bankers should have predicted the crash

The world will suffer another financial crisis, former Federal Reserve chief Alan Greenspan has told the BBC.

"The crisis will happen again but it will be different," he told BBC Two's The Love of Money series.

He added that he had predicted the crash would come as a reaction to a long period of prosperity.

But while it may take time and be a difficult process, the global economy would eventually "get through it", Mr Greenspan added.

.....

Historic event

During the interview for BBC Two's The Love of Money series, the former Fed chief said the current economic crisis was a "once in a century type of event", and one that he did not expect to witness.

Blamed by some for not doing more to prevent the crisis, Mr Greenspan denied any responsibility for the problems gripping the global economy.

"It's human nature, unless somebody can find a way to change human nature, we will have more crises and none of them will look like this because no two crises have anything in common, except human nature."

Alan Greenspan was interviewed as part of BBC Two's Love of Money series to be broadcast at 2100 BST on 10, 17 and 24 September.

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If its inevitable, and we will get through it, why are they spending trillions to fix it?

Its like saying the wheels on a car are rotating, lets put some glue on them to stop them...futile, entirely predictable.

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he distorted human behaviour by being a wimp!

quick to slash rates, slow to hike them!

if he'd just hiked rates quicker and stopped bailing out wall street and his politician and business colleagues at every tick down in the s&p500 we'd all be in jobs now

worst central banker in history.

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he distorted human behaviour by being a wimp!

quick to slash rates, slow to hike them!

if he'd just hiked rates quicker and stopped bailing out wall street and his politician and business colleagues at every tick down in the s&p500 we'd all be in jobs now

worst central banker in history.

exactly...he encouraged the behaviour.

same as bankers encouraged borrowers to take Sub Prime and rely on a good reset with another teaser in 2 years to ensure affordability.

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he distorted human behaviour by being a wimp!

quick to slash rates, slow to hike them!

if he'd just hiked rates quicker and stopped bailing out wall street and his politician and business colleagues at every tick down in the s&p500 we'd all be in jobs now

worst central banker in history.

he kept the party going on purpose

the guy should have stuck to his early priniciples

still price fixing always causes problems unless you are part of the cartel

maybe he should endorse the end the fed book

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he kept the party going on purpose

the guy should have stuck to his early priniciples

still price fixing always causes problems unless you are part of the cartel

maybe he should endorse the end the fed book

yep, & Eddie george said so.

BoE-deliberately-fuelled-consumer-boom

Let's hope Eddie George lives to a ripe old age eh. :ph34r:

edited - for those that haven't seen this before, this link is from 2007 btw & has been covered a few times on hpc. You won't find any other reference for it iirc. I wonder why eh.

Edited by grumpy-old-man-returns

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he distorted human behaviour by being a wimp!

quick to slash rates, slow to hike them!

if he'd just hiked rates quicker and stopped bailing out wall street and his politician and business colleagues at every tick down in the s&p500 we'd all be in jobs now

worst central banker in history.

Don't you know recessions are terribly unpopular with the voters? Just what are the politicians meant to do they promised growth and growth they must have at all costs.

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Don't you know recessions are terribly unpopular with the voters? Just what are the politicians meant to do they promised growth and growth they must have at all costs.

yeah

there was a labour party idiot on Newsnight last night discussing how they dont know what they are going to cut re public sector

they are not going to be make any cuts/decisions until growth is locked in - eh

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yeah

there was a labour party idiot on Newsnight last night discussing how they dont know what they are going to cut re public sector

they are not going to be make any cuts/decisions until growth is locked in - eh

long grass..kicked into.

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yeah

there was a labour party idiot on Newsnight last night discussing how they dont know what they are going to cut re public sector

they are not going to be make any cuts/decisions until growth is locked in - eh

That was Liam Byrne MP. A truly appalling politician.

http://www.liambyrne.co.uk/

Before entering Parliament, Liam, was a technology entrepreneur, co-founding the European-wide eCommerce company, eGS Group. Beginning on a kitchen table, he spent four years building the business into what is now the most successful public sector e-procurement exchange in Europe. Previously, he worked for merchant bankers, NM Rothschild and multi-national consulting firm, Accenture.

Edited by HostPaul TAFKA Rover2000

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That was Liam Byrne MP. A truly appalling politician.

http://www.liambyrne.co.uk/

Before entering Parliament, Liam, was a technology entrepreneur, co-founding the European-wide eCommerce company, eGS Group. Beginning on a kitchen table, he spent four years building the business into what is now the most successful public sector e-procurement exchange in Europe. Previously, he worked for merchant bankers, NM Rothschild and multi-national consulting firm, Accenture.

Sounds a fully qualified toady.

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Errrr.... he's dead already I believe?!

I actually had forgotten about this, so I won't try to squirm my way out of it like most posters do.

My mistake. :unsure::D

& no conspiracy by the looks of it, I remember at the time looking for the car crash story or something similar, but he died of cancer @ 70. Just googled it again.

thanks though for reminding me. :)

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