January 30, 2008: Does Greenspan Have Alzheimer’s?
The former Fed chief put the chances of a US recession at 50 percent, but added: “We have few indications that would allow us to say we are already there.”
July 31, 2008: Chronicles Of Depression 2.0: #181
July 31 (Bloomberg) — Former Federal Reserve Chairman Alan Greenspan said falling U.S. home prices are “nowhere near the bottom” and the resulting market turmoil isn’t showing signs of abating.
While the odds of a recession are 50-50, achieving stable markets will “take a while,” Greenspan said today in a CNBC interview.
But he did warn:
Fannie Mae and Freddie Mac, the largest sources of money for U.S. home loans, are a “major accident waiting to happen,” Greenspan said. “The solution” is the “nationalization” of the companies, he said.
That happened early September to Freddie Mac and Fannie Mae.
September 14, 2008: Chronicles Of Depression 2.0: #194
Alan Greenspan also described the banking crisis as the worst of his career and possibly the worst in a century including the 1929 Wall Street crash.
‘There’s no question that this is in the process of outstripping anything I’ve seen, and it still is not resolved and it still has a way to go,’ he said.
September 26, 2008: Greenspan Calls for Action on Financial Crisis
The U.S. economy is in the grip of the most severe financial crisis since the Great Depression.
It only took him nine freaking months to catch up to me.
I would have more quotes from him, but he tended to stay quiet for months and months.