Did I hear that right? Mr. Alan "Lets get the economy going by

[Skidmore]

reducing the prime interest rates so that people can refinance their mortages 10X a year" Greenspan is suddenly concerned about the number of bankruptcies and their effects on the economy? Just heard on AAR News. Well, no poo-poo, Alan. Duh, and duh again!

Alan and Mrs. Greenspan both need to retire.

[hatrack]

1. I'm sorry - was this Alan "Inflation Hawk" Greenspan you're referring to?

I thought our duty was to stand tall by raising interest rates against the threat of inflation that doesn't exist, $2.25 gasoline, $4.00 butter and $400,000 median home prices notwithstanding.

Maybe I'm just confused . . . or could it be that Unca Alan is a little bit confused?

[acmavm]

2. Greenspan is gotten senile. He just says whatever's convenient from

one day to the next. A couple of weeks ago he was talking about the way the economy was growing.

[IrateCitizen]

3. Greenspan's a horribly overrated and completely inept hack...

Everything he espouses is about one consituency only -- THE BANKERS. The people can go Cheney themselves, as far as he is concerned.

His outlook is really quite simple when you break it down.

People barely staying afloat with massive debt but still able to make payments = GOOD.

People sinking below their avalanche of debt, resulting in bankruptcy (and payment default) = BAD.

Of course, the option of helping to foster an environment in which people are able to do better than keep their heads above water by reining in the corporate and financial interests is completely left off the table in Greenspan's world.

[phantom power]

4. well said. He drives the system right up to the breaking point, and

then is alarmed when it breaks.