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Tag Archives: Greenspan

Dean Baker calls Greenspan testimony “silly”

Dean Baker, co-director of the Center for Economic and Policy Research, talks with Bloomberg about former Federal Reserve Chairman Alan Greenspan’s testimony to the Financial Crisis Inquiry Commission on his leadership of the central bank. And from the WSJ… ~~~ “Mr. Greenspan sought to lay blame for the crisis on international economic forces that were […]

Needed: $600 billion for the banks

Alan Greenspan discusses the too-big-too-fail banks which still face a gaping hole in their balance sheets. Bank loan loss reserves are typically estimated based on historical data and this economic crisis likely will exceed prior recessions/depressions. Mr. Greesnspan says the banks may need as much as $600 billion more in capital to cover losses what […]