Greenspan points to market 'fear'
The ex-Federal Reserve boss compared today's situation to the crash of 1987 and the fallout from the near-demise of Long-Term Capital Management in 1998.
"The human race has never found a way to confront bubbles," he said, alluding to booms suddenly grinding to a halt.
Mr Greenspan, who now advises a number of hedge funds and other financial institutions, said the nervousness which typically gripped markets when a period of "euphoric" expansion ended was extremely powerful.
Well, he ought to know. He's king of the bubbles, lol.
Hey! Mr. Alan Greenspan, print more cash for me
I'm not greedy but inflation means my payments grew
Hey! Mr. Alan Greenspan, print more cash for me
Trapped in condo mortgage mourning and I'm being sued
Can't pay my bills when you slow your magic printin' clip
All my cents have just been stripped and my homes can't seem to flip
And I can't seem to fund my bets, wading so deep in debt real
I'm just wonderin'
I'm ready to stop pulling hair, I'm ready for more pay
My stuff's on layaway, aim your printing press my way
I promise to not go under
Hey! Mr. Alan Greenspan, print more cash for me
I'm not greedy but inflation means my payments grew
Hey! Mr. Alan Greenspan, print more cash for me
Trapped in condo mortgage mourning and I'm being sued
Friday: No Major Economic Releases
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[image: Mortgage Rates] Note: Mortgage rates are from MortgageNewsDaily.com
and are for top tier scenarios.
Friday:
• At 10:00 AM ET, *University of Michig...
11 hours ago
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