Alan Greenspan on the Bubble and Janet Yellen's Big Mouth
A-ha! He may be a homicidal maniac but Alan Greenspan and I can agree on one thing: Janet Yellen sucks.
Alan Greenspan disputed suggestions by his former central bank colleague and current San Francisco Federal Reserve Bank President Janet Yellen that the Fed could have headed off the housing bubble by raising interest rates.
“The general notion the Fed was propagator of the bubble by monetary policy does not hold up to the evidence,” the former Fed chairman said in an interview on Bloomberg Television’s “Political Capital With Al Hunt” airing this weekend.
Alright, so the beef jerky bastard is wrong and in denial but at least he agrees with me. Too bad it's on the one point Janet has ever made that is correct.
Let it be known Greenspan will admit the Fed may have missed the bubble but in his shriveled brain, it had absolutely nothing to do with exceptionally low interest rates nor his easy money whoring.