Greenspan fears US government set for more debt stalemate

[alp227]

Source: BBC

Former US Federal Reserve Chairman Alan Greenspan has said that a repeat of the crisis that brought the country close to default is "perfectly conceivable".

He told the BBC that he had not seen another situation in Washington where "compromise" seemed so far away.

Mr Greenspan confessed to sympathies with the economic aims of the Tea Party, the faction that fought the government during debt ceiling talks.

But the former central banker said the Party's tactics were "undemocratic".

Read more: http://www.bbc.co.uk/news/business-24602273

[JDPriestly]

1. Greenspan's management of the economy during the early Bush years is the major cause of our

current economic problems. Why does anyone listen to him?

[fasttense]

5. Mr. Greenspan is so ignorant of economic theory

that he never got his doctorate. It shows.

[Egnever]

2. Isn't the law changed now?

[idwiyo]

3. Nice to know a teabagger was running US economy. No wonder it collapsed.

[annabanana]

4. Greenspan was SHOCKED that banks didn't self-regulate.

"busted valise":

http://stagehandglossary.blogspot.com/2011/07/term-of-moment-busted-valise.html

Busted valise: This is probably the great indigenous Broadway term. A busted valise is a screw up, a wounded soul, somebody who has been severely damaged and is not coming back whole. The term can be used as an adjective, like a busted-valise local, where the local is full of screw ups. I met a famous head, who had been forced to retire because of two injuries. I asked her how she was doing, and she said, "Ah, I'm a busted valise." TV stagehands don't know this term, and it is hard to find a Broadway stagehand under 50 who knows it.

[L0oniX]

6. STFU Greenspan ...fucking asscarrot!

[JEFF9K]

7. That's reassuring, when you consider that conservative economists are always wrong!

[melody]

8. Krugman stuck a pin in Greenspan for all time

It was a great piece that took the old jerk down. He's nothing but a mouthpiece for the far-right.