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Independent voices from the The Washington Times Communities
Topic - Alan Greenspan
The Department of Justice decided to go after Wall Street investment bank J.P. Morgan over the firm's role in America's recent economic woes. The result last week was a $13 billion settlement, which is the biggest shakedown of a single company in American history.
Strike one against the idea of an expanding global economy. British Chancellor George Osborne, who's been credited for getting his country's debt under control and keeping pace with an austere budget, said one looming threat to the steady-as-she-goes economic policy that England has been practicing in recent months is the European Union.
Not until Rob Jackson wrapped his hands around another Tony Romo "oops" Sunday night could Washington Redskins fans begin to savor the moment.
A stable dollar and prices are consistent with maximum sustainable job and wealth creation. However, the Fed's dual mandate to pursue full employment and price stability has given it license to meddle in the economy to boost short-term employment, with disastrous consequences.
The minutes of the Dec. 13 meeting of the Federal Reserve Board of Governors revealed the Fed is adopting the strategy of being more transparent when communicating its intent on the movement of short-term interest rates.
Just as the outlook for the U.S. economy finally brightened in recent weeks, the darkening clouds in Europe threaten to overshadow budding signs of growth.
Should the Federal Reserve be abolished as Rep. Ron Paul and others have demanded? The Republican presidential candidates have agreed that they would like to replace Ben S. Bernanke as chairman of the Fed, and many have been equally critical of former Fed Chairman Alan Greenspan. The view that both Mr. Bernanke and Mr. Greenspan have done poor jobs is also shared by many economists and financial writers. But, if not Mr. Bernanke, who? And if not the Fed, what?
"I'd prop him up and put a pair of dark glasses on him and keep him as long as I could."
Arnold Schwarzenegger has a book deal.
Congress' chief scorekeeper effectively shortened the window for the new deficit supercommittee to reach a deal, saying Tuesday that if lawmakers are going to meet their Thanksgiving deadline, his office will need to see an agreement at the beginning of November.
In a world taken up with wars, terrorism, earthquakes, tsunamis, radiation, rising food prices and a possible famine in North Korea, there's a quiet fundamental debate going on.
The science of foretelling was apparently revered by the ancients. But in most of the Western world, fortune telling has lost its potency — that is, unless the fortune teller happens to be a scientist, pollster or economist.
Mark Zandi, Moody's Analytics chief economist, has become an oracle of sorts on Capitol Hill, where members of both parties have recited his financial forecasts in an attempt to seize the high ground in battles over stimulus packages, deficit reduction plans and the tax cuts enacted during the George W. Bush administration.
"If only we had sold our stocks a few weeks ago." "If only I'd had the brakes checked before she drove up to the mountains." There are few sadder words than those of regret at letting time pass until the catastrophe hits. Neither individuals nor armies nor nations are exempt from the human tendency to wait too long before acting - and paying a terrible price for the delay.
Guest lineup for the Sunday TV news shows:
He said: "The Federal Reserve is concerned" that Fannie Mae and Freddie Mac were using this implicit reliance on a government bailout in a crisis to take more risks, in order to "multiply the profitability of subsidized debt."
He said: "What Britain has done with its austerity program has worked much better than I thought it would. I have had discussions with George Osborne and others and, as far as I can judge, it is coming out pretty much the way they had expected."