tag:blogger.com,1999:blog-107101682011-04-21T22:08:06.801-04:00Providing economic analysis exposing the harsh reality of "the Market" and the prejudiced policies of its chief puppet master the Federal Reserve.madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.comBlogger501100tag:blogger.com,1999:blog-10710168.post-171839397829687132008-09-25T11:07:00.001-04:002008-09-25T11:10:37.401-04:00

You Cannot Push on Piece of String Mr. PaulsonTreasury Secretary Paulson’s grand scheme to buy $700 billion of toxic derivatives from ailing financial institutions is a pipe dream that logic and history show will not work. The Paulson plan is nothing but manna from heaven for distressed institutions. No doubt there will be a momentary burst of confidence and markets will rally but longer term

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-44919341656567246352008-09-24T10:56:00.001-04:002008-09-24T11:05:08.070-04:00

No Bailouts—Fix the Problem & Reform of the FedBy madis sennerLost in the debate over the failing of financial behemoths and the meltdown of Wall Street is an accounting about how this mess came about. The housing bubble that created bad mortgage loans did not just materialize out of thin air. Toxic derivatives which threaten financial institutions and the overall economy were not cooked up in

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-53104765901811156492008-05-07T20:23:00.002-04:002008-05-07T20:49:58.786-04:00

The idea of the Federal Reserve intervening in commodities markets to push down the price oil and basic food stuffs seems a preposterous proposition to many. It is not mandated to deal with commodities and does not have the necessary tools to do so; it is in the business of printing money, overseeing banks and maintaining the smooth flow of the economy. But if we look at how money has morphed and

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-26817511479675788412008-04-16T21:38:00.000-04:002008-04-16T21:44:36.982-04:00

Predators gain from calamity and commoditiesHedge Fund managers in 2007 reaped huge profits by betting on commodities and the crisis in financial markets—John Paulson $3.7Bln., George Soros $2.9Bln. and James Simons $2.9bln. The 50th hedge fund manager’s $210 ml. seems paltry in comparison according to figures compiled by Alpha Magazine(http://www.alphamagazine.com/Article.aspx?ArticleID=1914753

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com2tag:blogger.com,1999:blog-10710168.post-64988510036269484792008-03-21T12:56:00.002-04:002008-03-21T13:15:08.959-04:00

Investment banks have begun to tap into the borrowing line that the Fed opened up for them. The AP reports that the new window has been aggressively used since its inception this past week . See Below.As I noted in my post yesterday my concern is that this window will be exploited by investment banks as commerical banks did in the immediate aftermath of the passage of Gramm Leach Biley in

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-22727465781944442562008-03-20T20:10:00.002-04:002008-03-20T20:18:18.681-04:00

Fed Enters Securities Underwriting BusinessOn Sunday night March 16, 2008 the Federal Reserve made a major advance for financial liberalization and deregulation when it opened up the Fed window to investment banks. For the first time securities underwriters could now borrow at the same advantageous rate as banks from the Fed. Unfortunately it has been deregulation and measures such as this that

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-42836661676166115162007-09-24T10:36:00.000-04:002007-09-24T10:38:24.437-04:00

The Maestro's False NotesBy Robert D. NovakMonday, September 24, 2007; A19After four decades of Alan Greenspan's nimble maneuvers, it seemed no accident that publication of his long-awaited memoir, "The Age of Turbulence," coincided with global financial turmoil. Instead of examining his frequently suspect management of monetary affairs during 18 years as chairman of the Federal Reserve Board,

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com1tag:blogger.com,1999:blog-10710168.post-88108096402738761602007-09-20T12:10:00.000-04:002007-09-20T12:18:58.418-04:00

September 17, 2007Op-Ed Columnist--NY TImesSad Alan’s LamentBy PAUL KRUGMANWhen President Bush first took office, it seemed unlikely that he would succeed in getting his proposed tax cuts enacted. The questionable nature of his installation in the White House seemed to leave him in a weak political position, while the Senate was evenly balanced between the parties. It was hard to see how a huge,

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1145211982298703242006-04-16T14:24:00.000-04:002007-04-01T22:38:14.393-04:00

This blog has been put on the backburner so that I may focus on other initiatives such as Dr. Rafil Dhafir. www.FreeDhafir.org.madis senner

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1138759798342330722006-01-31T21:05:00.000-05:002006-01-31T21:10:54.320-05:00

Good Riddance to Fed Head Greenspan!Ben Bernanke is the new Fed Head:http://www.federalreserve.gov/boarddocs/press/other/2006/20060131/default.htmNo doubt the new Fed Head will be tested by the markets. History teaches us that Bernanke will have to prove himself. History also shows us that comments by new officials can roil markets. Look for spikes in volatility.

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1137545218253500542006-01-17T19:36:00.000-05:002006-01-17T19:57:48.633-05:00

“Derivatives are financial weapons of mass destruction...The dangers are now latent -- but they could be lethal.”World renowned investor Warren Buffet of Berkshire Hathaway.With Fed Head Alan Greenspan slated to retire at the end of the month a lot has and will continue to be said about his legacy. He was a champion of free markets, he was the most blatantly political fed head ever, his easy

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1136335416153106322006-01-03T19:41:00.000-05:002006-01-03T19:43:36.166-05:00

Newly released minutes of the recent FOMC meeting show that the Fed's tightening may be over. Whew... As I have been saying for sometime the Fed should have stopped tightening a long time ago.To read the minutes: http://www.federalreserve.gov/fomc/minutes/20051213.htm

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1134670984021264342005-12-15T12:43:00.000-05:002005-12-15T13:26:07.950-05:00

An analysis of the Fed’s Flow of Funds (December 8, 2005) report by the Financial Markets Center finds that Americans continue to go deeper into debt:1) "New debt outstripped the growth of income and the rise of home values in the second quarter of the year."2) "During the third quarter, Americans debt outstanding rose 12.8% as Americans added $1.24 trillion in new net borrowing. This amount

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1134607006929887912005-12-14T19:34:00.000-05:002005-12-14T19:51:27.983-05:00

With only a few months left in his tenure as Fed Head alan Greenspan has rachet-ed up his propaganda. In accepting an honorary degree at NYU on December 14, 2005 he implied that Capitalism is a source for peace."Open and free markets are the antithesis of violence. They rest not only onvoluntary exchange but also on a necessary condition of voluntary exchange:trust in the word of those with whom

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com1tag:blogger.com,1999:blog-10710168.post-1134519957262488532005-12-13T19:24:00.000-05:002005-12-13T19:27:06.220-05:00

The Fed raised its target funds rate a quarter point to 4.25%. Let’s hope that this is the last rate hike. As I have been saying for some time the Fed should be cutting not raising interest rates. The wording in the FOMC statement indicates that this may be the last hike. To read the statement: http://www.federalreserve.gov/boarddocs/press/monetary/2005/20051213/default.htm

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1134348626691309642005-12-11T19:45:00.000-05:002005-12-11T19:50:26.716-05:00

Mr Two faced, Fed Head Alan Greenspan, was up to his old tricks when he gave a speech, ‘Budget Policy’, before the Federal Reserve Bank of Philadelphia Policy Forum (December 2, 2005) and sounded the alarm about the ballooning budget deficit. His solution–cut entitlements; "[I]f at all possible, to close the fiscal gap primarily, if not wholly, from the outlay side." http://www.federalreserve.gov

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1132588836217932462005-11-21T10:58:00.000-05:002005-11-21T11:00:36.226-05:00

From Financial Markets Center:The Book on Bernanke. This complete compendium of information about Dr. Bernanke includes speeches, testimony, financial disclosure statements, FOMC voting record, transcripts of previous confirmation hearings, academic/publishing background and selected reactions to his nomination as chairman.http://www.fmcenter.org/site/pp.asp?c=8fLGJTOyHpE&b=276066

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1132177152862583282005-11-16T16:32:00.000-05:002005-11-16T16:39:12.876-05:00

Yesterday’s nomination hearing for Ben Bernanke, Fed Head to be, got me thinking about the Humphrey Hawkins Act (The Full Employment and Economic Growth Act of 1978) that expired a few years back. The act was meant to get the Fed to focus policy for the benefit of all Americans, not just the rich. The act also mandated that the Fed Head testify before Congress on a regular basis.Clearly Bernanke’

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1131896010010877512005-11-13T10:26:00.000-05:002005-11-13T10:35:34.923-05:00

NY Times Says Corporate Buyout Market is a BubbleThe New York Times in ‘The Great Global Buyout Bubble’, Andrew Ross Sorkin, reported today (11/13/05) that there is a bubble in the Corporate Buyout Market. This is another example of how Greenspan’s easy money policy was irresponsible and wrong.To quote the Times:"A YEAR ago this week, Henry R. Kravis, the legendary buyout mogul whoinvented the

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1131588553201703702005-11-09T21:06:00.000-05:002005-11-09T21:09:22.346-05:00

Payback--Birds of a Feather–It Takes One to KnowToday in awarding the Medal of Freedom to the Fed Head President Bush said:"The era of Chairman Greenspan will always be known as one of phenomenaleconomic growth, high productivity, and unprecedented innovation and opportunityfor all our citizens. He is a believer in economic freedom, open and flexiblemarkets, and boundless human creativity. In his

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1130897394982380382005-11-01T20:57:00.000-05:002005-11-01T21:09:54.993-05:00

The Fed's decision to raise the Fed Fund's rate to 4% today will only add pressure to an economy already suffering from other pressures. As we have been noting for several months the Fed is back at its old pattern or either being too loose or too tight for too long. Today's hike is more of them being too tight.While recent statistics may be showing a stronger economy, I disagree. The economy

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1130372666118648722005-10-26T20:20:00.000-04:002005-10-26T20:24:26.126-04:00

Finanancial Markets Center has put together an excellent compendium on Ben Bernanke the recently nominated Fed Head. Click on:http://www.fmcenter.org/site/pp.asp?c=8fLGJTOyHpE&b=276066

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1130267833665622072005-10-25T14:50:00.000-04:002005-10-25T15:26:49.323-04:00

Why Bernanke is the Wrong ChoicePresident Bush’s selection of Ben Bernanke to the be next head of the Federal Reserve (Fed Head) will only exasperate the coming financial calamity. Mr. Bernanke is woefully unprepared for the job, has the wrong priorities and is vulnerable to being politically manipulated. He is about to become the fall guy, or at least they will try and make him the scapegoat,

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com1tag:blogger.com,1999:blog-10710168.post-1129905928261456302005-10-21T10:42:00.000-04:002005-10-21T10:45:28.266-04:00

William Greider, who broke onto the national scene with his book 'The Education of David Stockman', recently joined the swelling ranks of those assessing Fed Head Alan Greenspan’s career. He has been a consistent, albeit often a lonely voice, crying out about the injustices being served up by the Fed and its chief puppet master Greenspan. His book 'Secrets of the Temple'http://www.amazon.com/gp/

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1129132615870473932005-10-12T11:46:00.000-04:002005-10-12T12:17:52.720-04:00

Says Market Created "Speculative Excesses"The End is NighIn his speech ‘Economic flexibility’ before the National Italian American Foundation, Washington, D.C., October 12, 2005 Alan Greenspan stepped up his blame game to circumvent the coming criticism over his policies when the many imbalances and bubbles-Housing, stocks, trade, budget-burst.http://www.federalreserve.gov/boarddocs/speeches/2005

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1129080808740536042005-10-11T21:32:00.000-04:002005-10-11T21:33:28.746-04:00

Minutes of the September 20th Fed meeting http://www.federalreserve.gov/fomc/minutes/20050920.htmreleased today showed that the Fed is still concerned about inflation and will most likely tighten at its next meeting. Members noted that Katrina would affect the economy but were "uncertain" about the consequences. They also downplayed the price of higher oil on the economy instead focusing on its

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1128647874499447642005-10-06T21:00:00.000-04:002005-10-06T21:17:54.526-04:00

Greenspan: The worst Fed chief everThe Fed chairman thinks the central bank has done a fabulous job during his tenure. I beg to differ. Let's set the record straight.By Bill Fleckensteinhttp://moneycentral.msn.com/content/P131155.aspAlan Greenspan gave a speech last week titled "Economic Flexibility." It should have been called "Damn, I'm Good," because the world's biggest serial bubble blower --

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1127770596914183552005-09-26T17:27:00.000-04:002005-09-26T18:05:05.740-04:00

Don’t be fooled by the Fed Head’s sleight of hand (90% Cushion?)A Reading Between the Lines tells the storyIn an upcoming speech on "Mortgage Banking" to the American Bankers Association in Palm Desert, California Fed Head Alan Greenspan gave his strongest warning about the housing bubble.http://www.federalreserve.gov/boarddocs/speeches/2005/200509262/default.htmHousing Market Driving the

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1127766065252201752005-09-26T16:17:00.000-04:002005-09-26T16:21:05.276-04:00

American fury over Greenspan leakFrench claim Fed chairman admits US has lost control of budgetBy Philip Thornton, Economics Correspondent in WashingtonPublished: 26 September 2005From the Independent (UK)--http://news.independent.co.uk/business/news/article315144.eceBitter disagreements over global economic policy broke out into the open yesterday as the French Finance Minister claimed that Alan

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1127242071221182232005-09-20T14:38:00.000-04:002005-09-20T14:47:51.236-04:00

Analyst says market and economy going down.Points to change in 2 year yields for his rationaleBy raising the Fed Funds Rate by 25 bp to 3.75% the Fed adds to the woes created by Katrina and higher oil prices. To read the Fed’s statement: http://www.federalreserve.gov/BoardDocs/Press/monetary/2005/20050920/default.htmThis should be the last Fed rate rise as visible signs of a slowdown will soon

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1126814774701470242005-09-15T16:02:00.000-04:002005-09-15T16:06:14.710-04:00

The Wall Street Journal reported today (‘Greenspan Issues Another Warning on Fannie, Freddie’, by John D. Mckinnon and Dawn Kopecki; September 15, 2005)’ that Fed Head Alan Greenspan has issued another warning about the dangers of Fannie Mae and Freddie Mac’s portfolio’s in a letter addressed to Senator Robert Bennett (R., Utah).To read the letter:http://online.wsj.com/public/resources/documents/

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1126294386091191072005-09-09T15:18:00.000-04:002005-09-09T15:33:06.123-04:00

Looks like Fed Head Greenspan will be out on January 31, 2006. A just released statement from the FEd indicated that the two day FOMC meeting scheduled for Jan 31 and Feb 1 had been reduced to only Jan 31.http://www.federalreserve.gov/BoardDocs/Press/monetary/2005/20050909/default.htmPressure will be on the Bush administration to find a replacement. But as I indicated earlier in the year (http:

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1125092757520290902005-08-26T17:42:00.000-04:002005-08-26T17:46:07.073-04:00

Resorting to Jawboning When Policy is ImpotentThe Perfect Storm Reports coming out of the Greenspan Love Fest in Jackson Hole–the conference is titled "Greenspan Era: Lessons for the future"–are consistently interpreting the Fed Head’s comments as a strong warning about asset prices and the economy. To read Greenspan’s text: http://www.federalreserve.gov/boarddocs/speeches/2005/20050826/

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1123172989241779462005-08-04T12:10:00.000-04:002005-08-04T12:29:49.253-04:00

The Fed's announcement today 'Agencies Propose Rules on Post-Employment Restrictions for Senior Examiners' http://www.federalreserve.gov/boarddocs/press/bcreg/2005/20050804/default.htm is a good internal control measure to prevent bank examiners from being bribed with a lucrative employment contract to look the other way when doing bank examinations.But why is the Fed and other agencies

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1122911623871929632005-08-01T11:46:00.000-04:002005-08-01T11:54:57.830-04:00

Ignores --40.6% of AmericansIgnores--Financial Slums Built by GreenspanThe Federal Reserve’s recent announcement ( http://www.federalreserve.gov/boarddocs/press/other/2005/20050726/default.htm ) that is was setting up an educational program with USA Today to teach middle/high school students about economics and personal finance by having them create a front page of a newspaper is glaringly

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1122651658029430302005-07-29T11:31:00.000-04:002005-07-29T11:40:58.036-04:00

As we noted last week the Fed Head continues to paint a rosey scenario for the economy while ignoring systemic risks from the housing bubble, the trade/CA imbalances, the budget deficit, etc.The Financial Markets Center ( http://www.fmcenter.org/ ) in its analysis of the Beige Book concluded the same:"The July Beige Book suggests that inflationary pressures may beabating in important regions and

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1122052331555300602005-07-22T13:05:00.000-04:002005-07-22T13:22:14.346-04:00

What happened to the Surging Oil price, the Housing Bubble, the trade imbalance, etc..As recently as May 26th of this year I wrote on the FedHead.org blog that Greenspan was shouting fire over the litany of woes and risks posed to the USA economy, from factors such as higher oil prices. Now the Fed Head is saying that; "The data released over the past two months or so accord with the view that

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1119306014350992082005-06-20T18:17:00.000-04:002005-06-20T18:20:14.356-04:00

Says Lax Lending Standards Cause of Housing BubbleCites Subprime Market–Area Fed IgnoresThe Wall Street reported today ("Fannie Sees Higher Odds of Regional Busts’, Ruth Simon & John R. Hagerty, June 20, 2005) that Fannie Mae in report yet to be published "says the probability of housing busts has "risen sharply in certain parts of the country," partly because of looser lending standards."Fannie

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com1tag:blogger.com,1999:blog-10710168.post-1118960742328840802005-06-16T18:19:00.000-04:002005-06-16T18:25:51.056-04:00

Greenspeak–Fed is losing influence over marketsImbalances pose a risk that the Fed cannot manageRecent comments by Fed Head Alan Greenspan were a shock because they appear to be an acknowledgement that he, the Fed, is finding that its ability to affect certain markets is diminishing. A big concern because the USA economy is facing major imbalances/bubbles –a budget deficit, a current account

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1118350093099439292005-06-09T16:21:00.000-04:002005-06-09T16:59:35.866-04:00

In today’s (June 9, 2005) Wall Street Journal‘In Treating US After Bubble Fed Helped Create New threats’ Greg Ip notes how Greenspan’s prescription to fix the burst tech stock market bubble of 2000 may have compounded the problem:"By many yardsticks, the Federal Reserve's response to the bursting of the stock and tech-spending bubbles in 2000 has been a remarkable success. The 2001 recession was

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1118112041695181742005-06-06T22:37:00.000-04:002005-06-06T22:43:54.860-04:00

Says Hedge Funds provide a valuable service to the market???What about LTCM --Long Term Capital ManagementToday in satellite delivered speech to the IMF conference in Beijing, China Fed Head Alan Greenspan was at his hypocritical best when in a speech about the anomaly of low long term interest rates he talked about the merits of speculators and hedge fundshttp://www.federalreserve.gov/boarddocs/

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1117125258462627382005-05-26T12:25:00.000-04:002005-05-26T12:50:26.923-04:00

Litany of Woes Grows–Housing, Derivatives, Agencies...Fed Head Arsonist Yells FireRecent comments by Fed Head Alan Greenspan are all too reminiscent of his infamous "irrational exuberance" comment about the stock market being overvalued in a December 5, 1996 speech ( http://www.federalreserve.gov/boarddocs/speeches/1996/19961205.htm )Today the Fed Head sees several markets/agencies, not just one,

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1116469164781285552005-05-18T22:12:00.000-04:002005-05-18T22:19:24.783-04:00

The Washington Post reported today ("Administration Considers Delaying Fed Chief’s Exit; And Extra Few Months Would give Greenspan the Longest Tenure", Nell Henderson, May 18, 2005; http://www.washingtonpost.com/wp-dyn/content/article/2005/05/17/AR2005051701586.html) that the Bush administration was considering extending Chairman Alan Greenspan’s term a few months so that they would have more

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1116264564744505872005-05-16T13:27:00.000-04:002005-05-16T13:29:24.750-04:00

Speaking at Wharton School’s commencement on May 15, 2005 Fed Head Greenspan reiterated his tirade against legislation designed to curtail the–"persecuted minority" (corporations). He pointed out that malfeasance has continued in the face of increased laws and that the market remains the best arbiter of justice:"But recent corporate scandals in the United States and elsewhere have clearly shown

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1112750586776144582005-04-05T21:19:00.000-04:002005-04-05T21:24:45.066-04:00

Fed Head Alan Greenspan's comments today (4/05/05) to the National Petrochemical and Refiners Association Conference in San Antonio, Texas was classic Greenspan, as he advocated a free market approach to deal with higher oil prices. Butt out Uncle Sam.Greenspan said:"To be sure, energy issues present policymakers and citizens with difficultdecisions and tradeoffs to make outside the market

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1110992858769177122005-03-16T12:03:00.000-05:002005-03-16T12:07:38.773-05:00

Alan Greenspan, the chairman of the Federal Reserve, defended himself on Tuesday against Democratic lawmakers who say he contributed to soaring budget deficits by endorsing President Bush's tax cuts in 2001.Mr. Greenspan acknowledged that he and many others had been wrong to expect trillions of dollars in surpluses that never materialized.But in testimony before the Senate Special Committee on

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1109953940016618072005-03-04T11:28:00.000-05:002005-03-04T11:32:20.030-05:00

Federal Reserve Chairman Greenspan's suggestion that the USA implement a consumption tax is just another in a long series of policy assaults against average Americans. To read text:http://www.federalreserve.gov/boarddocs/testimony/2005/20050303/A consumption tax would be a national sales tax on all goods and services purchased by Americans. It would hit hard poor and middle income Americans who

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1109815982586917262005-03-02T21:11:00.000-05:002005-03-02T21:13:50.926-05:00

Fed Head Alan Greenspan waged further class warfare during his recent Humphrey Hawkins Testimony before congress (February 16/17, 2005).By approving President Bush Social Plan of "private accounts', albeit with a "go slowly" approach Greenspan was blessing Bush's attempt to radically alter Social Security--a program that has benefited a multitude of Americans in need.Greenspan again opted for

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1108347640765175352005-02-13T21:18:00.000-05:002005-02-13T21:20:40.770-05:00

The real Flip Flopper in Washington is not ex Presidential candidate Senator John Kerry, but rather Fed Head Alan Greenspan who took another about face on the budget deficit in a London speech on February 4, 2005. Greenspan said that; "the voice of fiscal restraint, barely audible a year ago, has at least partially regained volume". Wow!This is the same Greenspan who preached fiscal conservatism

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0tag:blogger.com,1999:blog-10710168.post-1107978959865396392005-02-09T14:55:00.000-05:002005-02-09T14:55:59.866-05:00

madis sennerhttp://www.blogger.com/profile/11542103505479015230noreply@blogger.com0