Is Greenspan Kidding? He Was "Right 70% of the Time"

[PA Democrat]

In testimony before the Financial Crisis Inquiry Commission, former Federal Reserve Chairman Alan Greenspan defended his record during questions by Chairman Phil Angelides by saying he was "right 70 percent" and "wrong 30 percent" of the time.

When asked whether the financial crisis was one of the times he got it wrong he answered, "I don't know."

If there is a photo in the dictionary next to the word "clueless" it should look like Alan Greenspan.

These are outrageous statements by a financial regulator whose job was to protect the entire U.S. economy. The fact that the lead-up to the financial meltdown in 2008 happened under Greenspan's watch seems to have escaped his grasp.

http://www.huffingtonpost.com/tom-matzzie/is-greenspan-kidding-only_b_529440.html

[boobooday]

1. That is a C-

Not so great, but it is probably more like a D-

[PA Democrat]

4. Yes, the failing student is insisting he deserves a passing grade!

[joeybee12]

2. No, he meant he was "to the right" 70% of the time...

...however, it's probably closer to 100% so he was wrong no matter what.

[ashling]

3. No, he's not "kidding,"

He's delusional :shrug:

[ET Awful]

5. He means 70% of the time before the senility and dementia set in . . .

unfortunately, that happened in his 20's.

[bridgit]

6. That's what I heard - wrong 30% of the time - made me shudder at what the world...

would look like today if he were 40 ~ 55% wrong they'd have to pull him out of his fancy NYC digs Bernie Madoff/Jack Abramoff Style

[Taitertots]

7. I don't understand how this happens

The chairman of the central bank leads the economy to absolute rubbish and still claims to be correct 70% of the time. Even worse is that people believe him. Worse yet is the media refuses to broadcast the evidence of reality clearly contradicting what he is saying. The media intentionally obfuscates the issues for profit, instead of explaining the economic fundamentals.

He was doing things people were telling him were wrong for years. Everyone worth listening to was all but screaming that there were huge problems building.

[jaksavage]

8. The best we could get?

Wow how do you get that kind of job with that kind of performance.
I wish my bosses were satisfied with 70%.
It is all about connections.

[Rex]

9. Well no wonder, we had an almost flunky running the country!

Alan Greenspan = Failure.

[SOS]

10. Bernie Madoff pleased his investors 100% of the time

Until it collapsed.

Greenspan will go down in history as an incompetent right-wing ideologue who destroyed the US financial system with his Randian gibberish.