Greenspan Remind Comission That Federal Reserve Board Is Not An Enforcement Agencey

Former Federal Reserve Chairman Alan Greenspan said Wednesday morning before a hearing with the Financial Crisis Inquiry Commission (FCIC) that the Federal Reserve Board did not play a significant hand in the subprime mortgage crisis.

“Remember that the Federal Reserve Board is a rule making [agency], it is not an enforcement agency,” said Greenspan, who served as chairman from 1987-2006. “We did not have the capacity to implement the types of enforcement that the FDIC, [Housing and Urban Development and the Department of Justice] has.” (0:24)
Listen

Greenspan: I Was Right 70 Percent Of The Time, Wrong 30 Percent Of The Time

Former Federal Reserve Chairman Alan Greenspan conceded Wednesday morning before a hearing with the Financial Crisis Inquiry Commission (FCIC) that he had made mistakes throughout his career.

Noted the 84 year old Greenspan, “I was right 70% of the time, but I was wrong 30% of the time. There are an awful lot of mistakes in 21 years.” (0:22)
Listen

Adequate Capital And Liquidity Critical To Financial Improvement, Says Greenspan

Former Federal Reserve Chairman Alan Greenspan said Wednesday that adequate caital and liquidity are critical facotrs for improving the economy. (0:19)

Listen

Greenspan: Regulation Hurts U.S. competitiveness

By Michael Combier-Talk Radio News Service

In order to remain competitive in the global market, heavy regulation which is the current Administration plan is not the road to follow says Former Federal Reserve Chairman Alan Greenspan. (1:05)
Listen

Greenspan: Why Not Forming New Banks?

By Michael Combier-Talk Radio News Service

Former Federal Reserve Chairman Alan Greenspan discussed the possibility of creating new banks, free of any toxic assets. These new institutions would provide less risks than the institutions which have sought federal loans and that still remain a threat to the U.S. economy. (1:22)
Listen