Alan Greenspan was interviewed for Bloomberg by Al Hunt and opined on the Bear Stearns bailout, Lehman Brothers recent trouble, and his view of the Fed as market stabilizer. I feel this is the most self-serving and disingenuous blubbering I have heard yet from the master spin doctor and former Federal Reserve Chairman. Bear Stearns […]
Bernanke Speech Discussing Inflation
I recently saw two interviews recapping the Bernanke speech this morning in Jackson Hole, WY with John Makin of American Enterprise Institute and Ethan Harris of Lehman Brothers since no cameras were allowed. Bernanke Speech Address Inflation Bernanke has convinced both of these analysts inflation is in check and can “play with” short term inflation […]
Fed Decision To Hold Rates Steady Shows No Courage
The Fed decision today to hold rates at 2 percent was expected. The Fed decision and the statement outlining the reasons show Bernanke’s lack of courage and leadership in my book. Fed Decision Lacks Vision The statement of the Fed said inflation worries in the future were “highly uncertain”. Uncertain my eye…there is nothing more […]
Bernanke Speaks At FDIC Conference
Today Ben Bernanke, the Federal Reserve Chairman, spoke addressing many issues the foreclosure and mortgage crisis are causing. Mr. Bernanke seems worried, at least ostensibly, the current or a possible future crisis could cause entire financial markets to grind to a halt. He speaks of wide-sweeping regulatory measures to give the Fed powers to regulate […]
Housing Crash Unaffected By The Federal Reserve Actions
The housing crash currently in its infancy will soon grow up into an economy killing monster that the Federal Reserve has no weapon strong enough to defeat. A housing crash is unlike a stock market crash in that there is no easy way out. Let’s take a walk back in time to the tech stock […]
Panicked Jim Cramer Calls On Bernanke To Stem The Subprime Meltdown
Remember this date: August 3rd, 2007. This is the day Jim Cramer melted down right along with the subprime home mortgage market and Bear Stearns. I wrote an article about a month ago on the Bear Stearns implosion due to subprime home mortgage exposure, forecasting their demise, and here it is. The video clip below […]
Fed Chairman Bernanke Warns Against Turning FHA into A Subprime Haven
On July 19th, Fed Chairman Bernanke testified before the Senate Banking, Housing and Urban Affairs chaired by Senator Dodd. In the Q and A portion of his testimony, Senator Carper asks Mr. Bernanke about the modernization of the FHA mortgage program. FHA mortgage programs have lost ground to more adaptive mortgage programs in the last […]
