Word: greenspans
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Dates: during 2000-2009
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Bank nationalization is the phrase on everyone's lips at the moment - with Alan Greenspan, Chris Dodd and Paul Krugman among the leading lights of the unlikely coalition in favor of it, and members of the Obama Administration repeatedly denying that it's in their plans. It's a misleading debate, though, given that the U.S. banking system was effectively nationalized on Oct. 13, when then Treasury Secretary Henry Paulson called the heads of the country's nine biggest banks into his office and told them they couldn't leave the room before agreeing to sell shares to the government...
...peak. This inflection comes when the rate of the increase in firings begins to slow. The most important moment in a downturn comes not when the damaging contraction's momentum has come to rest but when its progress has begun to slow. (See pictures of former Fed Chairman Alan Greenspan...
...Greenspan, Bernanke. I’m just really glad we didn’t get J.K. Rowling. Oh, and I wouldn’t mind having Bill Clinton and Hillary and Bill Gates–the power triple...
...think it's possible to worry and then figure out what to do. We're learning a whole series of lessons now, like you don't want to create shadow banking systems without enough capital. The idea that we should do nothing about bubbles because of this Greenspan notion that we can never figure out the difference between an asset-price increase that is fundamentally driven vs. one that's a bubble, I think, has been completely discredited. Everyone now says we should act preemptively against bubbles...
...think there is a wider issue [of] investing so much power in the hands of people like Alan Greenspan and saying, 'We'll just trust you because you said it's O.K.' - I don't think anyone is going to do that for another 50 years, until we forget about this mistake. All of the people who were running central banks allowed the financial system to become so large and leverage to become so pervasive. That they allowed banks in Iceland to become 850% of GDP is crazy. The Royal Bank of Scotland had the largest balance sheet...