Friday, March 16, 2007

According to Alan Greasepan 10% rise in house prices will sort out US problems

Sub-prime firm sells $2.7bn loans

One of the firms hit by woes in the US sub-prime lending market has struck a deal to sell some of its loans.

Posted by holding out @ 12:53 PM (597 views)
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8 thoughts on “According to Alan Greasepan 10% rise in house prices will sort out US problems

  • Greenspan: the Pied Piper of Puffed up asset Prices

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  • Hey this is worrying he is over here in the UK now, well sort of

    Alan Greenspan (born March 6, 1926) is an American economist and was Chairman of the Board of Governors of the Federal Reserve of the United States from 1987 to 2006. Following his retirement as Fed chairman, he accepted an honorary (unpaid) position at HM Treasury in the United Kingdom.

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  • Just read the bottom bit, this guy is pure propaganda and blatant with it as well. I suppose they must know it works on some people, what a scary thought .. help.

    Mr Greenspan said that woes of sub-prime lenders were unlikely to spill over into the wider economy unless housing prices fell again.

    And he predicted that if house prices went up by 10%, “the sub-prime mortgage problem would disappear.”

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  • I think most of the problem with this report is the BEEB’s interpretation, lack of understanding and poor quality reporting.

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  • Homer Simpson really does exist, or at least his alter ego does!

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  • he predicted that if house prices went up by 10%, “the sub-prime mortgage problem would disappear.”

    So let’s get this straight. If asset prices in the market rise by 10%, the risk presented by the bottom end of the market disappears?

    That’s called a Ponzi scheme.

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  • Wannabeemigre says:

    If I had £1,000,000 in cash I would be a millionaire:-)

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  • And how exactly are prices in a crashing market supposed to rise by 10%?! Perhaps by even more unsuitable borrows joining the property spending spree?

    Maitre D: And finally, monsieur, a wafer-thin mint.
    Mr Creosote: No.
    Maitre D: Oh sir! It’s only a tiny little thin one.
    Mr Creosote: No. …

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