Comments on: How Failures from the Maestro, Alan Greenspan, Lead to the Mortgage Crisis http://www.biggerpockets.com/renewsblog/2007/09/14/how-failures-from-the-maestro-alan-greenspan-lead-to-the-mortgage-crisis/ Learn, Network, Invest Wed, 08 Oct 2008 01:52:22 +0000 http://wordpress.org/?v=2.6.1 By: The Feed Bag - Benny Drops The Bomb http://www.biggerpockets.com/renewsblog/2007/09/14/how-failures-from-the-maestro-alan-greenspan-lead-to-the-mortgage-crisis/#comment-51213 The Feed Bag - Benny Drops The Bomb Wed, 19 Sep 2007 00:21:12 +0000 http://www.biggerpockets.com/renewsblog/2007/09/14/how-failures-from-the-maestro-alan-greenspan-lead-to-the-mortgage-crisis/#comment-51213 [...] priest Alan Greenspan has a book dropping today and the extra publicity can’t hurt too much. How Failures from the Maestro, Alan Greenspan, Lead to the Mortgage Crisis by Joshua Dorkin at Bigger Pockets and Greenspan Thinks Housing Downturn Unavoidable As Book [...] [...] priest Alan Greenspan has a book dropping today and the extra publicity can’t hurt too much. How Failures from the Maestro, Alan Greenspan, Lead to the Mortgage Crisis by Joshua Dorkin at Bigger Pockets and Greenspan Thinks Housing Downturn Unavoidable As Book [...]

]]> By: Sam Chapman http://www.biggerpockets.com/renewsblog/2007/09/14/how-failures-from-the-maestro-alan-greenspan-lead-to-the-mortgage-crisis/#comment-51209 Sam Chapman Tue, 18 Sep 2007 21:16:46 +0000 http://www.biggerpockets.com/renewsblog/2007/09/14/how-failures-from-the-maestro-alan-greenspan-lead-to-the-mortgage-crisis/#comment-51209 The real cause was greed. Lenders, mortgage brokers and some REALTORS saw the opportunity to make a lot of money and just ran with bad business practices. Should Greenspan have recognized that? It is easy to be blind when things are going well. The real cause was greed. Lenders, mortgage brokers and some REALTORS saw the opportunity to make a lot of money and just ran with bad business practices. Should Greenspan have recognized that? It is easy to be blind when things are going well.

]]> By: Mo http://www.biggerpockets.com/renewsblog/2007/09/14/how-failures-from-the-maestro-alan-greenspan-lead-to-the-mortgage-crisis/#comment-51204 Mo Tue, 18 Sep 2007 09:18:47 +0000 http://www.biggerpockets.com/renewsblog/2007/09/14/how-failures-from-the-maestro-alan-greenspan-lead-to-the-mortgage-crisis/#comment-51204 I would like your opinion on a re business i just started! Its at buyahousewithme.com thanks I would like your opinion on a re business i just started! Its at buyahousewithme.com thanks

]]> By: Brian Brady http://www.biggerpockets.com/renewsblog/2007/09/14/how-failures-from-the-maestro-alan-greenspan-lead-to-the-mortgage-crisis/#comment-51182 Brian Brady Sun, 16 Sep 2007 20:04:46 +0000 http://www.biggerpockets.com/renewsblog/2007/09/14/how-failures-from-the-maestro-alan-greenspan-lead-to-the-mortgage-crisis/#comment-51182 Hold on just a minute! Was Volcker to blame for the junk bond crisis? Absolutely not. Wall Street investors sometimes reach to riskier investment products to enhance yield. It's the straw and the came;s back. The projected deep recession was caused by two planes ramming into two buildings in lower Manhattan. Greenspan reacted as any Chairman should in a crisis; he injected liquidity into the system. Market forces reacted as expected. Hold on just a minute!

Was Volcker to blame for the junk bond crisis? Absolutely not. Wall Street investors sometimes reach to riskier investment products to enhance yield. It’s the straw and the came;s back.

The projected deep recession was caused by two planes ramming into two buildings in lower Manhattan. Greenspan reacted as any Chairman should in a crisis; he injected liquidity into the system. Market forces reacted as expected.

]]> By: The Feed Bag - Refried and Served Again http://www.biggerpockets.com/renewsblog/2007/09/14/how-failures-from-the-maestro-alan-greenspan-lead-to-the-mortgage-crisis/#comment-51181 The Feed Bag - Refried and Served Again Sun, 16 Sep 2007 20:00:06 +0000 http://www.biggerpockets.com/renewsblog/2007/09/14/how-failures-from-the-maestro-alan-greenspan-lead-to-the-mortgage-crisis/#comment-51181 [...] Joshua Dorkin at Bigger Pockets…. How Failures from the Maestro, Alan Greenspan, Lead to the Mortgage Crisis. [...] [...] Joshua Dorkin at Bigger Pockets…. How Failures from the Maestro, Alan Greenspan, Lead to the Mortgage Crisis. [...]

]]> By: The Odysseus Medal: Voting for the People’s Choice Award is open | BloodhoundBlog: Real estate marketing and technology blog | Realtors and real estate, mortgages, lending, investments http://www.biggerpockets.com/renewsblog/2007/09/14/how-failures-from-the-maestro-alan-greenspan-lead-to-the-mortgage-crisis/#comment-51176 The Odysseus Medal: Voting for the People’s Choice Award is open | BloodhoundBlog: Real estate marketing and technology blog | Realtors and real estate, mortgages, lending, investments Sun, 16 Sep 2007 19:05:11 +0000 http://www.biggerpockets.com/renewsblog/2007/09/14/how-failures-from-the-maestro-alan-greenspan-lead-to-the-mortgage-crisis/#comment-51176 [...] Joshua Dorkin, How Failures from the Maestro, Alan Greenspan, Lead to the Mortgage Crisis [...] [...] Joshua Dorkin, How Failures from the Maestro, Alan Greenspan, Lead to the Mortgage Crisis [...]

]]> By: Money Merge Account http://www.biggerpockets.com/renewsblog/2007/09/14/how-failures-from-the-maestro-alan-greenspan-lead-to-the-mortgage-crisis/#comment-51169 Money Merge Account Sun, 16 Sep 2007 04:42:57 +0000 http://www.biggerpockets.com/renewsblog/2007/09/14/how-failures-from-the-maestro-alan-greenspan-lead-to-the-mortgage-crisis/#comment-51169 It's hard to say that the guy really screwed up, it's not like understanding every intricacy of the US economy is an easy job, or one that's even possible for that matter. Historically, Greenspan's been right on, plus, the people in the trenches (the mortgage professionals) who say he should have known are forgetting one thing, they're on the front line...they're seeing exactly what's happening every day. The Chairman of the Federal Reserve doesn't. It's not like the banks were reporting that they were funding loans that were going to fail. From the outside, everything seemed normal. The industry's situation now was obvious to me a year ago, but that's only because I was seeing it day in and day out. Funding bad loans isn't something that anyone who's involved in is going to go around telling everyone. Everyone that knew enough was either a part of it, or with a company that was a part of it. It’s hard to say that the guy really screwed up, it’s not like understanding every intricacy of the US economy is an easy job, or one that’s even possible for that matter. Historically, Greenspan’s been right on, plus, the people in the trenches (the mortgage professionals) who say he should have known are forgetting one thing, they’re on the front line…they’re seeing exactly what’s happening every day. The Chairman of the Federal Reserve doesn’t. It’s not like the banks were reporting that they were funding loans that were going to fail. From the outside, everything seemed normal.

The industry’s situation now was obvious to me a year ago, but that’s only because I was seeing it day in and day out. Funding bad loans isn’t something that anyone who’s involved in is going to go around telling everyone. Everyone that knew enough was either a part of it, or with a company that was a part of it.

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