Alan Greenspan 3 - Planet Earth, Our Home

^ Greenspan, Alan (July 1966). "Gold and Economic Freedom". The Objectivist 5 (7). http://www.constitution.org/mon/greenspan_gold.htm. Retrieved on 16 October 2008.
^ Rubin, Harriet (2007-09-15). "Ayn Rand’s Literature of Capitalism". The New York Times. http://www.nytimes.com/2007/09/15/business/15atlas.html. Retrieved on 5 January 2008
^ Binswanger, Harry (2002-08-30). "Greenspan on 'Infectious Greed'". Capitalism Magazine. http://www.capmag.com/article.asp?id=1825. Retrieved on 17 October 2008
^ (2007-10-15). Alan Greenspan on FOX Business Network. Fox Business Network, YouTube.
^ ^a ^b ^c Bloomberg News - Greenspan Concedes to `Flaw' in His Market Ideology
^ Newsweek - Who is to Blame?
^ Rogers, Jim (2004). "Adventure Capitalist: The Ultimate Road Trip". Random House
^ A Brief History of the 1987 Stock Market Crash (U.S. Federal Reserve)
^ In 2008, Shades of October 1987 (Forbes Magazine)
^ Central Banks promise support
^ Online NewsHour: The power of Alan Greenspan - December 6, 1996
^ Associated Press (2007-02-26). "Greenspan warns of U.S. recession risk". MSNBC. http://www.msnbc.msn.com/id/17343814/. Retrieved on 17 October 2008
^ Deutsche Bank (2007-08-13). Alan Greeenspan to consult for Deutsche Bank Corporate and Investment Bank. Press release. http://www.db.com/presse/en/content/press_releases_2007_3606.htm. Retrieved on 2008-10-17.
^ Henderson, Nell (2006-11-07). "Greenspan Unconcerned About Housing". The Washington Post. http://www.washingtonpost.com/wp-dyn/content/article/2006/11/06/AR2006110600588.html. Retrieved on 17 October 2008
^ ^a ^b Hagenbaugh, Barbara (2007-09-17). "Greenspan takes center stage in 'Age of Turbulence'". USA Today. http://www.usatoday.com/money/books/2007-09-17-greenspan-cover_N.htm. Retrieved on 9 November 2007
^ Felsenthal, Mark (2007-09-15). "Greenspan criticizes Bush policies in memoir". Reuters. http://www.reuters.com/article/wtMostRead/idUKN1420623220070915. Retrieved on 9 November 2007
^ ^a ^b Ip, Greg; Emily Steel (2007-09-15). "Greenspan Book Criticizes Bush and Republicans: 'They Deserved to Lose'". Wall Street Journal. http://online.wsj.com/article/SB118978549183327730.html. Retrieved on 9 November 2007
^ Andrews, Edmund L.; David E. Sanger (2007-09-15). "Former Fed Chief Attacks Bush on Fiscal Role". The New York Times. http://www.nytimes.com/2007/09/15/business/15greenspan.html. Retrieved on 8 November 2007
^ Guha, Krishna (2007-09-17). "Greenspan alert on US house prices". Financial Times. http://www.ft.com/cms/s/0/31207860-647f-11dc-90ea-0000779fd2ac.html. Retrieved on 17 October 2008
^ Felsenthal, Mark (2007-09-13). "Greenspan says didn't see subprime storm brewing". Reuters. http://www.reuters.com/article/newsOne/idUSWBT00756820070913. Retrieved on 17 October 2008
^ Guha, Krishna (2007-09-16). "A global outlook". Financial Times. http://www.ft.com/cms/s/0/976b7442-6486-11dc-90ea-0000779fd2ac.html. Retrieved on 17 October 2008
^ Greenspan, Alan (2007-12-12). "The Roots of the Mortgage Crisis: Bubbles cannot be safely defused by monetary policy before the speculative fever breaks on its own". Wall Street Journal. http://opinionjournal.com/editorial/feature.html?id=110010981. Retrieved on 17 October 2008
^ http://www.federalreserve.gov/boarddocs/hh/2002/February/FullReport.txt
^ ^a ^b Hearing before the Joint Economic Committee Congress of the United States, November 13, 2002. Accessed July 15, 2008.
^ Microsoft Word - ifdp 841.doc
^ [1].
^ [2].
^ Ip, Greg. [http://online.wsj.com/article/SB120760341392296107.html "His Legacy Tarnished, Greenspan Goes on Defensive"]. The Wall Street Journal. pp. A1. http://online.wsj.com/article/SB120760341392296107.html. Retrieved on 8 April 2008
^ FRB: Speech, Greenspan-Understanding household debt obligations-February 23, 2004
^ "Innovation has brought about a multitude of new products, such as subprime loans and niche credit programs for immigrants. Such developments are representative of the market responses that have driven the financial services industry throughout the history of our country …
With these advances in technology, lenders have taken advantage of credit-scoring models and other techniques for efficiently extending credit to a broader spectrum of consumers. The widespread adoption of these models has reduced the costs of evaluating the creditworthiness of borrowers, and in competitive markets cost reductions tend to be passed through to borrowers. Where once more-marginal applicants would simply have been denied credit, lenders are now able to quite efficiently judge the risk posed by individual applicants and to price that risk appropriately. These improvements have led to rapid growth in subprime mortgage lending; indeed, today subprime mortgages account for roughly 10 percent of the number of all mortgages outstanding, up from just 1 or 2 percent in the early 1990s." Alan Greenspan (4 April 2005). "Remarks by Chairman Alan Greenspan, Consumer Finance At the Federal Reserve System’s Fourth Annual Community Affairs Research Conference, Washington, D.C.". Federal Reserve Board. http://www.federalreserve.gov/BoardDocs/speeches/2005/20050408/default.htm
^ "In early 2004, he urged homeowners to shift from fixed to floating rate mortgages, and in early 2005, he extolled the virtues of sub-prime borrowing—the extension of credit to unworthy borrowers. Far from the heartless central banker that is supposed to “take the punchbowl away just when the party is getting good,” Alan Greenspan turned into an unabashed cheerleader for the excesses of an increasingly asset-dependent U.S. economy. I fear history will not judge the Maestro's legacy kindly." Stephen Roach (16 March 2007). "The Great Unraveling". Morgan Stanley. http://www.morganstanley.com/views/gef/archive/2007/20070316-Fri.html
^ "Greenspan allowed the tech bubble to fester by first warning about irrational exuberance and then doing nothing about via either monetary policy or, better, proper regulation of the financial system while at the same time becoming the “cheerleader of the new economy”. And Greenspan/Bernanke allowed the housing bubble to develop in three ways of increasing importance: first, easy Fed Funds policy (but this was a minor role); second, being asleep at the wheel (together with all the banking regulators) in regulating housing lending; third, by becoming the cheerleaders of the monstrosities that were going under the name of “financial innovations” of housing finance. Specifically, Greenspan explicitly supported in public speeches the development and growth of the risky option ARMs and other exotic mortgage innovations that allowed the subprime and near-prime toxic waste to mushroom." Nouriel Roubini (19 March 2007). "Who is to Blame for the Mortgage Carnage and Coming Financial Disaster? Unregulated Free Market Fundamentalism Zealotry". RGE Monitor. http://www.rgemonitor.com/blog/roubini/184125
^ BW Online | July 19, 2004 | Is A Housing Bubble About To Burst?
^ George Soros, the prominent financier, avoids using the financial contracts known as derivatives "because we don't really understand how they work." Felix G. Rohatyn, the investment banker who is credited with being involved with saving New York from financial catastrophe in the 1970s, described derivatives as potential "hydrogen bombs." Warren E. Buffett presciently observed five years ago that derivatives were "financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal." ... For more than a decade, Alan Greenspan has fiercely objected whenever derivatives have come under scrutiny in Congress or on Wall Street."Greenspan's role reassessed as crisis swells". Herald Tribune. 2008-10-09. http://www.heraldtribune.com/article/20081009/article/810090400
^ FT.com / Comment & analysis / Comment - We will never have a perfect model of risk
^ FT.com | The Economists’ Forum | We will never have a perfect model of risk
^ FT.com | The Economists’ Forum | Alan Greenspan: A response to my critics
^ FT.com / Columnists / Martin Wolf - Why Greenspan does not bear most of the blame
^ See http://www.americanbanker.com/article.html?id=20081016X2P0WWQ8 and http://www.naegele.com/whats_new.html#articles
^ Greenspan’s Mea Culpa (New York Times)
^ Greg Ip and Emily Steel, Greenspan Book Criticizes Bush And Republicans, Wall Street Journal, September 15, 2007.
^ "Reid sticks by Greenspan comments". The Washington Times. 2005-03-05. http://www.washtimes.com/news/2005/mar/04/20050304-102717-1490r/. Retrieved on 24 October 2008
^ Edmund L. Andrews (2007-03-03). "Greenspan says Federal Budget Deficits are Unsustainable". The New York Times. http://www.nytimes.com/2005/03/03/politics/03deficit.html?_r=1&pagewanted=2&oref=slogin. Retrieved on 1 December 2007
^ FOXNews.com - Transcript: Nancy Pelosi on 'FOX News Sunday' - FOX News Sunday | Chris Wallace
^ FOXNews.com - Greenspan Supports 'Ownership' Concept in Social Security - Business And Money | Business News | Financial News
^ Senate Democratic Leader Blasts Greenspan (washingtonpost.com)
^ [3] Barney Frank Says...
^ Greenspan Likes Social Security Private Accounts, But Urges Caution
^ Greenspan under Fire for Support of Tax Cuts
^ Paul Krugman (2005-02-18). "Three-card Maestro". The New York Times. http://www.nytimes.com/2005/02/18/opinion/18krugman.html?_r=1&oref=slogin. Retrieved on 10 November 2007
^ "Greenspan Says U.S. Must Adjust Retirement Programs (Update1)". Bloomberg. 2004-08-27. http://www.bloomberg.com/apps/news?pid=10000087&sid=aRR5whQ7nGvE&refer=top_world_news. Retrieved on 26 October 2008
^ Bob Woodward (2001). Maestro: Alan Greenspan and the American Boom. Simon & Schuster. ISBN 0-7432-0412-3. , page 110
^ [4]
^ White House Press Secretary (2005-09-09). Citations for Recipients of the 2005 Presidential Medal of Freedom. Press release. http://www.whitehouse.gov/news/releases/2005/11/20051109-10.html. Retrieved on 2008-10-17.
^ Department of Defense (2006-01-23). Alan Greenspan Receives Defense Department Distinguished Public Service Award. Press release. http://www.defenselink.mil/releases/release.aspx?releaseid=9252. Retrieved on 2008-12-29.

[edit] External links

[edit] Criticism