Thursday, August 14, 2008
So the UK are looking at early 2010 and beyond?
Greenspan Sees Bottom - In Housing, Criticizes Bailout
"Home prices in the U.S. are likely to start to stabilize or touch bottom sometime in the first half of 2009," he said in an interview. Tracing a jagged curve with his finger on a tabletop to underscore the difficulty in pinpointing the precise trough, he cautioned that even at a bottom, "prices could continue to drift lower through 2009 and beyond." His quarrel is with the approach the Bush administration sold to Congress. "They should have wiped out the shareholders, nationalized the institutions with legislation that they are to be reconstituted -- with necessary taxpayer support to make them financially viable -- as five or 10 individual privately held units," which the government would eventually auction off to private investors, he said.
6 thoughts on “So the UK are looking at early 2010 and beyond?”
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beartil2010 says:
Architect: This house is rubbish! It’s not how I told you to build it all! Rank incompetence.
Builder: But Senor, ees jost how you design eet. See, here are the plans…
Stevie Dee says:
Good to see Granspan back on form. Sensible suggestions, clearly his eminent mind was not part of the Bush Administration’s future plans. I am and always will be a great fan of Sir Alan Greenspan, but I believe in the future, and what he is saying now, shows that he was not necessarily given the freedom or choice that his reputation and competence deserved.
Sneaker says:
He has been consistently off with his calls every time he has spoken about housing.
Why should we listen this time?
little professor says:
Sensible sugestions???
Wonder what the Daily Mail/Express readers would have to say about that over here?
“So conflicted….want higher house prices….but hate immigrants….my head just exploded…..”
Stevie Dee says:
#3 & 4, I really do appreciate what you guys are saying, but I believe Sir Alan, had an exceptionally difficult administration to deal with, I admire a man (although in the public eye has been blamed for this fiasco), who is still looking for a solution or ideas and willing to step-up and express them. Some people would call this “stupidity” others would call it “brave”.
harold says:
Stevie Dee, get real.
http://www.financialsense.com/fsu/editorials/schiff/2008/0801.html