BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Greenspan: Intentional Weakening of Currencies Is Bad for Trade, Investors]]>http://www.bloggingstocks.com/2010/11/11/greenspan-intentional-weakening-of-currencies-is-bad-for-trade/http://www.bloggingstocks.com/2010/11/11/greenspan-intentional-weakening-of-currencies-is-bad-for-trade/http://www.bloggingstocks.com/2010/11/11/greenspan-intentional-weakening-of-currencies-is-bad-for-trade/#commentsFiled under: , , ,

Former U.S. Federal Reserve Chairman Alan Greenspan has a message for investors: intentional weakening of currencies -- direct and indirect -- has limits.

"The suppression of the reminbi [China's yuan currency ] and the recent weakening of the dollar are, of necessity, producing firming exchange rates in the rest of the world," Greenspan wrote in an op-ed column in The Financial Times.

Continue reading Greenspan: Intentional Weakening of Currencies Is Bad for Trade, Investors

Greenspan: Intentional Weakening of Currencies Is Bad for Trade, Investors originally appeared on BloggingStocks on Thu, 11 Nov 2010 16:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>BernankeGreenspaninthenewsQE2Thu, 11 Nov 2010 16:40:00 EST<![CDATA[Greenspan: Let Bush's Tax Cuts Expire]]>http://www.bloggingstocks.com/2010/07/16/greenspan-let-bush-s-tax-cuts-expire/http://www.bloggingstocks.com/2010/07/16/greenspan-let-bush-s-tax-cuts-expire/http://www.bloggingstocks.com/2010/07/16/greenspan-let-bush-s-tax-cuts-expire/#commentsFiled under:

One of the nation's foremost economic minds is calling on policy makers to let the Bush administration's 2001 tax cuts expire to help balance the federal budget.

"They should follow the law and let them lapse," Former U.S. Federal Reserve Chairman Alan Greenspan told Bloomberg News Thursday, citing the need for tax revenue to cut the U.S. nearly $1.6 billion budget deficit.

President Bill Clinton was last U.S. president to run a budget surplus, recording budget surpluses in the final four years of his administration.

President George W. Bush's 2001 $1.1 trillion tax cut instantaneously turned a budget surplus into a roughly $200 billion budget deficit.

Continue reading Greenspan: Let Bush's Tax Cuts Expire

Greenspan: Let Bush's Tax Cuts Expire originally appeared on BloggingStocks on Fri, 16 Jul 2010 16:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>2001 tax cutbudget deficitBushGreenspantax cutFri, 16 Jul 2010 16:00:00 EST<![CDATA[Greenspan Says Market Forces, Not Federal Reserve Rates, Created Housing Bubble]]>http://www.bloggingstocks.com/2010/04/07/greenspan-market-forces-not-fed-created-housing-bubble/http://www.bloggingstocks.com/2010/04/07/greenspan-market-forces-not-fed-created-housing-bubble/http://www.bloggingstocks.com/2010/04/07/greenspan-market-forces-not-fed-created-housing-bubble/#commentsFiled under: ,

The former head of the world's most powerful central bank once again provided tutelage to Washington-based investigators regarding the source(s) of the financial crisis.

Former U.S. Federal Reserve Chairman Alan Greenspan, testifying Wednesday before the Financial Crisis Inquiry Commission, reiterated that the supply of money globally -- not the Fed's monetary policy on interest rates -- was the primary driver of the extended low interest rate period that contributed to the U.S. housing market bubble, the bursting of which set in motion the financial crisis.

Continue reading Greenspan Says Market Forces, Not Federal Reserve Rates, Created Housing Bubble

Greenspan Says Market Forces, Not Federal Reserve Rates, Created Housing Bubble originally appeared on BloggingStocks on Wed, 07 Apr 2010 17:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bubbleGreenspaninthenewsmortgage ratesmortgagesreal estate bubbleWed, 07 Apr 2010 17:30:00 EST<![CDATA[Greenspan Portraits Hit the Bargain Bin: An Opportunity for Contrarian Investors?]]>http://www.bloggingstocks.com/2010/02/19/greenspan-portraits-hit-the-bargain-bin-an-opportunity-for-cont/http://www.bloggingstocks.com/2010/02/19/greenspan-portraits-hit-the-bargain-bin-an-opportunity-for-cont/http://www.bloggingstocks.com/2010/02/19/greenspan-portraits-hit-the-bargain-bin-an-opportunity-for-cont/#commentsFiled under:

The Wall Street Journal reports (subscription required) on the beaten down market for portraits of former Federal Reserve Chairman Alan Greenspan.

The once revered economic maestro is now seen in many circles as being responsible for multiple bubbles and the current financial crisis: one man who paid $150,400 for a portrait of Greenspan now keeps it under his bed, the way an adolescent might hide a porn magazine. Demand for Greenspan portraits has understandably plummeted, and so have prices.

But is now a good time buy?

Continue reading Greenspan Portraits Hit the Bargain Bin: An Opportunity for Contrarian Investors?

Greenspan Portraits Hit the Bargain Bin: An Opportunity for Contrarian Investors? originally appeared on BloggingStocks on Fri, 19 Feb 2010 13:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>greenspanFri, 19 Feb 2010 13:00:00 EST<![CDATA[Greenspan: 'The Recession Is Over']]>http://www.bloggingstocks.com/2010/02/08/greenspan-the-recession-is-over/http://www.bloggingstocks.com/2010/02/08/greenspan-the-recession-is-over/http://www.bloggingstocks.com/2010/02/08/greenspan-the-recession-is-over/#commentsFiled under: , ,

One of the world's preeminent economists and former central bankers had some good news and not-so-good news for investors.

Speaking on NBC's Meet The Press on Sunday, Former U.S. Federal Reserve Chairman Alan Greenspan said, "The recession is over. It bottomed back in the middle of the year."

However, Greenspan added that, as many economists agree, the economic recovery will have to continue for some time to absorb the slack in the labor force to lower the U.S. unemployment rate significantly.

Continue reading Greenspan: 'The Recession Is Over'

Greenspan: 'The Recession Is Over' originally appeared on BloggingStocks on Mon, 08 Feb 2010 10:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>economic recoveryfeaturedGreenspaninthenewsPaulsonMon, 08 Feb 2010 10:00:00 EST<![CDATA[Greenspan: Wealth Effect Reduces Need for More Stimulus]]>http://www.bloggingstocks.com/2009/12/17/greenspan-wealth-effect-reduces-need-for-more-stimulus/http://www.bloggingstocks.com/2009/12/17/greenspan-wealth-effect-reduces-need-for-more-stimulus/http://www.bloggingstocks.com/2009/12/17/greenspan-wealth-effect-reduces-need-for-more-stimulus/#commentsFiled under: ,

That the year 2009 has had more than its share of disappointing economic developments would not be front-page news (or even top-of-the-web-site news).

But the return of the 'wealth effect'? That's almost stop-the-presses stuff: former U.S. Federal Reserve Chairman Alan Greenspan said 2009's bull market in stocks is reducing the need for additional stimulus actions, Bloomberg News reported Thursday.

Aided by U..S. stock market gains, U.S. household net worth increased by $2.7 trillion in Q3 to $53.4 trillion, according to data compiled by the U.S. Federal Reserve.

Continue reading Greenspan: Wealth Effect Reduces Need for More Stimulus

Greenspan: Wealth Effect Reduces Need for More Stimulus originally appeared on BloggingStocks on Thu, 17 Dec 2009 16:40:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>economyfeaturedGreenspanwealth effectThu, 17 Dec 2009 16:40:00 EST<![CDATA[Greenspan: U.S. national debt, not weak dollar, is the concern]]>http://www.bloggingstocks.com/2009/10/15/greenspan-u-s-national-debt-not-weak-dollar-is-the-concern/http://www.bloggingstocks.com/2009/10/15/greenspan-u-s-national-debt-not-weak-dollar-is-the-concern/http://www.bloggingstocks.com/2009/10/15/greenspan-u-s-national-debt-not-weak-dollar-is-the-concern/#commentsFiled under:

One of the nation's foremost economic minds is sending an alarm signal regarding the U.S. budget deficit and national debt.

Former U.S. Federal Reserve Chairman Alan Greenspan said he's not "overly concerned" about the recent weakness in the U.S. dollar, Bloomberg News reported Thursday. However, Greenspan is concerned about the long-term costs to the United States associated with its rising national debt.

Continue reading Greenspan: U.S. national debt, not weak dollar, is the concern

Greenspan: U.S. national debt, not weak dollar, is the concern originally appeared on BloggingStocks on Thu, 15 Oct 2009 16:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>budget deficitfeaturedGreenspaninterest ratesnational debtThu, 15 Oct 2009 16:30:00 EST<![CDATA[Greenspan: A value-added tax (VAT) may be in the U.S.'s future]]>http://www.bloggingstocks.com/2009/08/06/greenspan-a-value-added-tax-vat-may-be-in-the-u-s-s-future/http://www.bloggingstocks.com/2009/08/06/greenspan-a-value-added-tax-vat-may-be-in-the-u-s-s-future/http://www.bloggingstocks.com/2009/08/06/greenspan-a-value-added-tax-vat-may-be-in-the-u-s-s-future/#commentsFiled under: ,

Will entitlement reform and an increase in existing federal income taxes be enough to close the U.S. budget deficit (pdf)?

If the right conditions line up, perhaps, but former U.S. Federal Reserve Chairman Alan Greenspan suggests that ultimately the pressures on Medicare, Social Security, and Medicaid may be so great that the nation is compelled to add a new revenue source: a value-added tax.

Continue reading Greenspan: A value-added tax (VAT) may be in the U.S.'s future

Greenspan: A value-added tax (VAT) may be in the U.S.'s future originally appeared on BloggingStocks on Thu, 06 Aug 2009 18:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>budget deficitGreenspaninthenewsvalue added taxVATThu, 06 Aug 2009 18:00:00 EST<![CDATA[National Association of Realtors asks Greenspan to speak at event]]>http://www.bloggingstocks.com/2009/05/14/national-association-of-realtors-asks-greenspan-to-speak-at-even/http://www.bloggingstocks.com/2009/05/14/national-association-of-realtors-asks-greenspan-to-speak-at-even/http://www.bloggingstocks.com/2009/05/14/national-association-of-realtors-asks-greenspan-to-speak-at-even/#commentsFiled under: ,

From the "How friggin' stupid can people possibly be??!?!?" file comes this item: The National Association of Realtors hired Alan Greenspan to speak at its Washington D.C. conference on Tuesday.

Greenspan explained that "We are finally beginning to see the seeds of a bottoming" in the housing industry. The New York Post's John Crudele reports:

Continue reading National Association of Realtors asks Greenspan to speak at event

National Association of Realtors asks Greenspan to speak at event originally appeared on BloggingStocks on Thu, 14 May 2009 15:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>GreenspaninthenewsNARNew York PostNewYorkPostThu, 14 May 2009 15:40:00 EST<![CDATA[Greenspan backs bank nationalization]]>http://www.bloggingstocks.com/2009/02/18/greenspan-backs-bank-nationalization/http://www.bloggingstocks.com/2009/02/18/greenspan-backs-bank-nationalization/http://www.bloggingstocks.com/2009/02/18/greenspan-backs-bank-nationalization/#commentsFiled under: ,

Alan Greenspan, former Federal Reserve chairman said that the U.S. government may have to nationalize some banks temporarily.

Mr. Greenspan stated: "It may necessary to temporarily nationalize some banks in order to facilitate swift and orderly restructuring." He also said: "I understand that once in a hundred years this is what you do."

Republican senator from South Carolina, Lindsey Graham, said: "We cannot keep pouring good money after bad. [...] If nationalization works, then we should do it."

Continue reading Greenspan backs bank nationalization

Greenspan backs bank nationalization originally appeared on BloggingStocks on Wed, 18 Feb 2009 17:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Greenspaninthenewsnationalize banksNationalizeBanksWed, 18 Feb 2009 17:00:00 EST<![CDATA[Greenspan: I was wrong about banks' ability to police each other]]>http://www.bloggingstocks.com/2008/10/23/greenspan-i-was-wrong-about-banks-ability-to-police-each-other/http://www.bloggingstocks.com/2008/10/23/greenspan-i-was-wrong-about-banks-ability-to-police-each-other/http://www.bloggingstocks.com/2008/10/23/greenspan-i-was-wrong-about-banks-ability-to-police-each-other/#commentsFiled under: , , , , ,

Congressional investigators repeatedly, verbally pummeled former U.S. Federal Reserve Chairman Alan Greenspan Thursday, for what lawmakers charged was a lack of oversight for a mortgage and housing market run amok - - a lapse they believe encouraged a subprime financing boom and collapse that led to the global financial crisis.

Greenspan, looking subdued but characteristically composed as he testified before the House Committee on Oversight and Government Reform, conceded that a flaw in his free-market ideology contributed to a "once-in-a-century credit tsunami," Bloomberg News reported Thursday.

Greenspan: mortgage risk was miss-priced

The flaw, Greenspan said, was the failure by banks and mortgage lenders to properly price risky mortgage assets, including subprime / Alt-A mortgages, The Washington Post reported Thursday. Further, Greenspan said he saw "no choice" but to force the financial firms that package mortgage loans to "retain a meaningful part of the securities they issue" - - thus mandating that if the loans go bad, they will lose money, as well.

Further, Greenspan said he was "partially" wrong in his opposition in recent years to the regulation of derivatives, Bloomberg News reported Thursday - - in stark contrast to his May 2005 speech opposing derivatives regulation.

Economist David H. Wang told BloggingStocks Thursday that the failure to regulate and review lending practices by banks and mortgage lenders was a bipartisan failure.

"Both political parties are responsible because neither Democrats nor Republicans, not just Republicans, cared about the quality of mortgages banks approved during the housing boom," Wang said. "It was like grade inflation in college where the professor gives 'C' grades to students whose work only deserves a 'D.' No one cared about the quality of the loans as long as they were sold and no longer on their balance sheet. In the future, loan originators must retain partial equity in the loan to make them accountable for mortgage defaults."

Continue reading Greenspan: I was wrong about banks' ability to police each other

Greenspan: I was wrong about banks' ability to police each other originally appeared on BloggingStocks on Thu, 23 Oct 2008 15:19:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Alan Greenspanbanking sectorbanksbond marketcredit marketsDemocratsGreenspaninthenewsmortgage backed securitiesmortgagessubprime mortgagesU.S. CongressThu, 23 Oct 2008 15:19:00 EST<![CDATA[Greenspan says financial market turmoil may extend into 2009]]>http://www.bloggingstocks.com/2008/06/24/greenspan-says-financial-market-turmoil-may-extend-into-2009/http://www.bloggingstocks.com/2008/06/24/greenspan-says-financial-market-turmoil-may-extend-into-2009/http://www.bloggingstocks.com/2008/06/24/greenspan-says-financial-market-turmoil-may-extend-into-2009/#commentsFiled under: , ,

Former U.S. Federal Reserve Chairman Alan Greenspan believes financial market turmoil that disrupted the bond market and created liquidity concerns may extend into 2009, Bloomberg News reported Tuesday.

However, Greenspan said the Fed's efforts in March to revive credit have reduced instability. "Things do at this particular stage look a little bit better," Greenspan told Bloomberg News via a conference call, but added that financial doldrums are likely to linger a "good number of months or into next year."

Further, when asked if the U.S. economy was in a recession, Greenspan said, "We are on the brink," Reuters reported Tuesday.

Greenspan's remarks occur one day before the now Ben Bernanke-led Fed announces it interest rate decision, on Wednesday at 2:15 p.m. EDT. The Fed is widely expected to keep interest rates the same, while in its accompanying statement also striking a balance between concern over rising inflation and a pronounced economic stall.

Continue reading Greenspan says financial market turmoil may extend into 2009

Greenspan says financial market turmoil may extend into 2009 originally appeared on BloggingStocks on Tue, 24 Jun 2008 13:28:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>Alan GreenspanBernankecpicredit crisiscredit crunchFedfood pricesgdpGreenspaninflationinterest ratesinthenewsmonetary policyoil pricesU.S. economyU.S. Federal ReserveTue, 24 Jun 2008 13:28:00 EST<![CDATA[Greenspan says U.S. is in 'pale recession,' possibly lasting all of 2008]]>http://www.bloggingstocks.com/2008/05/05/greenspan-says-u-s-is-in-pale-recession-possibly-lasting-all/http://www.bloggingstocks.com/2008/05/05/greenspan-says-u-s-is-in-pale-recession-possibly-lasting-all/http://www.bloggingstocks.com/2008/05/05/greenspan-says-u-s-is-in-pale-recession-possibly-lasting-all/#commentsFiled under: , ,

Those familiar with former U.S. Federal Reserve Chairman Alan Greenspan's observations about macroeconomics, in general, and the U.S. economy, in specific, will remember his comments regarding "irrational exuberance" -- imprudent buying of stocks; and "the conundrum" -- the tendency for long-term interest rates to remain low, despite Fed increases in short-term interest rates.

Enter a third: the "pale recession."

Greenspan Monday said the U.S. economy has slipped into an "awfully pale recession" and may continue to experience doldrums for the rest of 2008, Bloomberg News reported Monday.

Further, regarding the economy, Greenspan added that "we are clearly receding" and said it was too soon to declare an end to the credit crisis created by the collapse of the subprime mortgage market and housing sector correction, Bloomberg News reported. Greenspan declined to comment on monetary policy.

Continue reading Greenspan says U.S. is in 'pale recession,' possibly lasting all of 2008

Greenspan says U.S. is in 'pale recession,' possibly lasting all of 2008 originally appeared on BloggingStocks on Mon, 05 May 2008 17:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Alan GreenspanFedGDPGreenspanirrational exuberancejobsthe conundrumU.S. economyU.S. Federal ReserveMon, 05 May 2008 17:45:00 EST<![CDATA[Martin Wolf: Don't scapegoat Greenspan for housing sector's woes]]>http://www.bloggingstocks.com/2008/04/10/martin-wolf-dont-scapegoat-greenspan-for-housing-sectors-woes/http://www.bloggingstocks.com/2008/04/10/martin-wolf-dont-scapegoat-greenspan-for-housing-sectors-woes/http://www.bloggingstocks.com/2008/04/10/martin-wolf-dont-scapegoat-greenspan-for-housing-sectors-woes/#commentsFiled under: , , ,


Every economic problem or setback seeks a scapegoat -- someone decision makers, pundits, and others can blame (unjustifiably) for a turn of events that's preferred by virtually no one.

The criticism is parsimonious, unfair, and injurious -- but that hasn't seemed to stop practitioners from venturing forth with charges that are often tenuous, if not absurd.

Scapegoat-of-the-moment

The ever-incisive FT columnist Martin Wolf points out that former U.S. Federal Reserve Chairman Alan Greenspan is being cast as 'the villain' for the housing bubble, its bursting, and consequent impact on credit/bond markets and credit availability. All of it is unfair, Wolf notes, and he provides ample evidence to support his point.

Chiefly: Greenspan did not create low, long-term interest rates. The low, long-term rates were caused primarily by a global savings glut, Wolf said. (See: China's savings rate.) The Fed had little control over this -- Greenspan even creatively and accurately referred to the Fed's inability to force long-term rates higher despite the Fed's best effort: he called it "a conundrum." Given the surplus savings sloshing around in global markets at that time, among other factors, those low rates would have occurred regardless of who was Fed chairman.

Continue reading Martin Wolf: Don't scapegoat Greenspan for housing sector's woes

Martin Wolf: Don't scapegoat Greenspan for housing sector's woes originally appeared on BloggingStocks on Thu, 10 Apr 2008 15:15:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bubblesChinacommoditiesfeaturedFedGreenspanhousinghousing bubblehousing sectorinterest ratesinthenewsMartin Wolfmonetary policyMortgage Bankers Associationmortgage ratesmortgagesNasdaqU.S. CongressU.S. Federal ReserveUnited KingdomThu, 10 Apr 2008 15:15:00 EST<![CDATA[Greenspan says U.S. home prices will probably bottom by end of 2008]]>http://www.bloggingstocks.com/2008/04/08/greenspan-says-u-s-home-prices-will-probably-bottom-by-end-of-2/http://www.bloggingstocks.com/2008/04/08/greenspan-says-u-s-home-prices-will-probably-bottom-by-end-of-2/http://www.bloggingstocks.com/2008/04/08/greenspan-says-u-s-home-prices-will-probably-bottom-by-end-of-2/#commentsFiled under: , , ,

Former U.S. Federal Reserve Chairman Alan Greenspan predicted that the decline in U.S. home prices will probably end "well before" early next year, as the home inventory supply declines, Bloomberg News reported Tuesday.

Further, Greenspan sees most of the excess inventory eliminated in early 2009, with home prices stabilizing "well before that."

U.S. home inventories total a 9.5- to 10-month supply, at current sales rates, depending on the survey. A normal home sales market typically has a 3-4 month supply.

Revisionist critique

Generally recognized as one of the premiere central bankers in the modern era, Greenspan's legacy and policies have been subject to revisionist criticism, largely as a result of the U.S. housing recession. Critics charge that the Greenspan-led Fed lowered interest rates too much to stimulate the U.S. economy following the September 11, 2001 terrorist attack on the United States. The over-stimulation, critics argue, led to the recent housing bubble. Second, critics say the Fed did not prudently exercise its regulatory power, which led to a collapse in underwriting standards, and the record mortgage defaults that precipitated the credit crunch following the bursting of the housing bubble in 2007.

Continue reading Greenspan says U.S. home prices will probably bottom by end of 2008

Greenspan says U.S. home prices will probably bottom by end of 2008 originally appeared on BloggingStocks on Tue, 08 Apr 2008 13:01:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>credit crisiscredit crunchfeaturedFedGreenspanhome priceshousinghousing bubbleinterest ratesmonetary policymortgagesU.S. Federal ReserveTue, 08 Apr 2008 13:01:00 EST<![CDATA[Newspaper wrap-up: Washington Mutual to exit wholesale lending?]]>http://www.bloggingstocks.com/2008/04/08/newspaper-wrap-up-washington-mutual-to-exit-wholesale-lending/http://www.bloggingstocks.com/2008/04/08/newspaper-wrap-up-washington-mutual-to-exit-wholesale-lending/http://www.bloggingstocks.com/2008/04/08/newspaper-wrap-up-washington-mutual-to-exit-wholesale-lending/#commentsFiled under: , , , , ,

MAJOR PAPERS:
  • General Motors Corporation (NYSE: GM) and Ford Motor Company (NYSE: F) want to export more of their vehicles around the globe, and are getting a lift from new labor contracts and the weak dollar, which they believe will translate to bigger profits, the Wall Street Journal reported.
  • The Wall Street Journal also reported that former Fed chairman Alan Greenspan has been criticized for how he handled the economy before retiring two years ago, and is under attack for policies that many say started the current financial crisis.
OTHER PAPERS:
WEB SITES:

Newspaper wrap-up: Washington Mutual to exit wholesale lending? originally appeared on BloggingStocks on Tue, 08 Apr 2008 08:58:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>alan greenspanAlanGreenspanBABoeingboeing 787Boeing787dreamlinerdreamliner delaysDreamlinerDelaysFfordford motor companyFordMotorCompanygeneral motorsGeneralMotorsGMGreenspanwashington mutualWashingtonMutualWMTue, 08 Apr 2008 08:58:00 EST<![CDATA[Greenspan sees oil boom going on 'forever']]>http://www.bloggingstocks.com/2008/02/25/greenspan-sees-oil-boom-going-on-forever/http://www.bloggingstocks.com/2008/02/25/greenspan-sees-oil-boom-going-on-forever/http://www.bloggingstocks.com/2008/02/25/greenspan-sees-oil-boom-going-on-forever/#commentsFiled under: , , , ,

Alan Greenspan must have gotten up on the wrong side of the bed. He sees the growth of the US economy at zero now and believes that a contraction in GDP is likely. He added, according to Reuters, his view that the oil boom will "go on forever."

It sounds a bit like stagflation. Negative GDP combined with ongoing high prices in a key commodity.

If Greenspan is right, one of the critical forces in the US economy will vex economic growth for some time to come. High oil could wreck the chance for recovery in a number of industries lead by the automotive, retail, and airline sectors.

Greenspan made his share of mistakes as head of the Fed. The current Fed governors better hope he is wrong now.

Douglas A. McIntyre is an editor at 247wallst.com.

Greenspan sees oil boom going on 'forever' originally appeared on BloggingStocks on Mon, 25 Feb 2008 04:01:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>greenspaninthenewsoilMon, 25 Feb 2008 04:01:00 EST<![CDATA[Fishing for returns... and coming up empty]]>http://www.bloggingstocks.com/2008/01/17/fishing-for-returns-and-coming-up-empty/http://www.bloggingstocks.com/2008/01/17/fishing-for-returns-and-coming-up-empty/http://www.bloggingstocks.com/2008/01/17/fishing-for-returns-and-coming-up-empty/#commentsFiled under: ,

Experienced fishermen know that sometimes the fishing is good -- and sometimes, it ain't.

Bloomberg reports on Mark Fishman, a famed bond trader previously with SAC Capital. His main fund, Sailfish Capital Partners LLC, has lost about half its assets since July because of soured investments and clients pulling money, according to two investors, cited in the article.

Fishman, 47, Sailfish's investment chief, left SAC in March 2005. After losing more than 12% in August, clients pulled about $400 million from Fishman's Multi-Strat fund this month alone, cutting assets to $980 million. Bloomberg cites increased mortgage defaults and credit markets seizing up as two reasons hampering performance at Sailfish.

I wrote recently about former Fed Chairman, Alan Greenspan, joining up with a leading hedge fund. Maybe Alan's looking to catch a few bond-trading fish to join him.

Zack Miller is the Managing Editor of IsraelNewsletter.com and a former equity analyst for a leading multinational hedge fund.

Fishing for returns... and coming up empty originally appeared on BloggingStocks on Thu, 17 Jan 2008 18:59:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bondgreenspanhedge fundHedgeFundinvestsacsubprimeThu, 17 Jan 2008 18:59:00 EST<![CDATA[Greenspan looking to make some green in new position]]>http://www.bloggingstocks.com/2008/01/15/greenspan-looking-to-make-some-green-in-new-position/http://www.bloggingstocks.com/2008/01/15/greenspan-looking-to-make-some-green-in-new-position/http://www.bloggingstocks.com/2008/01/15/greenspan-looking-to-make-some-green-in-new-position/#commentsFiled under: , , , ,

The Wall Street Journal is reporting today that Alan Greenspan, whom some believe had fueled the housing bubble, has joined Paulson & Co., a hedge fund with almost $30 billion under management.

The former Federal Reserve Board chairman has created an advisory firm, Greenspan Associates, and will be consulting with various firms in different industries.

Fed after 18 years as chairman, Greenspan left in January 2006. The Journal article quotes some (unnamed) Greenspan's critics claiming that he "helped fuel the housing bubble by keeping interest rates at 1% from 2003 to 2004, and then raising them too slowly."

Whether or not you view Greenspan as the cause of the problem, its symptom, or its savior, this is good news for Paulson, a firm which saw one of its credit hedge funds rise by about 590% thanks to bets that the housing market would weaken and that mortgages given to borrowers with sketchy credit would drop in value.

Good luck in your new job, Alan.

Zack Miller is the Managing Editor of IsraelNewsletter.com and a former equity analyst for a leading multinational hedge fund.

Greenspan looking to make some green in new position originally appeared on BloggingStocks on Tue, 15 Jan 2008 10:22:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>economygreenspanhedge fundsHedgeFundsinthenewspaulsonsubprimeTue, 15 Jan 2008 10:22:00 EST<![CDATA[The U.S. mortgage public policy debate begins]]>http://www.bloggingstocks.com/2007/12/18/the-u-s-mortgage-public-policy-debate-begins/http://www.bloggingstocks.com/2007/12/18/the-u-s-mortgage-public-policy-debate-begins/http://www.bloggingstocks.com/2007/12/18/the-u-s-mortgage-public-policy-debate-begins/#commentsFiled under: , , ,

In an essay/column in this week's issue of The New Yorker magazine ("Paulson's Plan," December 17, 2007) writer James Surowiecki offers a more-somber analysis of the subprime mortgage default issue than, say, Financial Times' columnist Martin Wolf.

In Surowiecki's analysis, (which, readers should note, was researched and published before the European Central Banks' infusion of $500 billion Tuesday to ensure year-end liquidity for banks), the current problem is one unlike any other that Wall Street has faced. The problem is not liquidity, as Martin Wolf argued, but 1) high-risk home owners who spent way too much n overpriced houses, and 2) a deep mistrust of the financial system because of the way the system rates and values assets like mortgages.

At issue: Wall Street?

Hence, the Bush Administrations' proposed assistance plan to the mortgage sector and some homeowners, even if it becomes more-encompassing, would not solve the problem: the financial system - - and presumably Wall Street - - simply does not rate and value assets correctly, and the government package doesn't speak to that dimension.

Continue reading The U.S. mortgage public policy debate begins

The U.S. mortgage public policy debate begins originally appeared on BloggingStocks on Tue, 18 Dec 2007 18:56:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Alan Greenspanbond marketBush Administrationcredit marketsECBEuropean Central BankFedFinancial TimesGreenspanHenry PaulsonHenryPaulsonhousinghousing sectorinterest ratesJames SurowieckiMartin Wolfmortgage backed securitiesmortgagesPaulsonsubprime mortgagesubprime mortgagesThe New YorkerU.S. Federal ReserveU.S. Treasury DepartmentWolfTue, 18 Dec 2007 18:56:00 EST