September 17, 2007 9:39am CST
The forman chairman A Greenspan said that the turmoil in financial markets was an accident waiting to happen,he doesn't agree that he should have taken actions other then Bernanke neither that the crisis was a result of credit policy before though he said he knew about some risks that were taken by some financials,he only admit he didn't know it was that serious. In his memoires ,mr Greenspan ,a lifelong republican ,criticises also his party for abandoning its small-government principles and warns that trade off between inflation and growth is likely to worsen. During his time as chairman by the FED almost everyone said he was the right man on this job and the job couldn't done better but nowadays there is more criticism about it and there are more who blamed him for the supprime crisis,the reality should be something in the middle,he did his job well but it could have been done better. The fact is that when something happened that 's not nice we should have find someone to blame and these person best thing he can do is put the blame on someone else. I just now that success have many creators while a disaster is a child without parents.
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18 Sep 07
Who ever has to held responsible for the Subprime crisis, in now immaterial. The real threat is to how to plug out the falling standards in US Economy. As many Analysts point out that the US Economy is on the path of recession, and therefore the subprimes woes has created the Ripple, Contagion effect,in the Stock Market. World Markets like Nikkei, Shangagi composite, and Our Sensex has brunt the effects of Subprime crisis, and therefore the Small investors like me, in stock market are Greatly affected.
18 Sep 07
You're right that who has to held responsible is immaterial,in fact there are lots responsible for it but noone of them would say they are,success have many creators while disaster is an orphan. Long before the subprime crisis Shania Twain has already sing the song Ka Ching! We've created us a credit card mess,we spend the money that we don't possess and when you're broke ,go and get a loan take out an other mortgage on your home consolidate so you can afford to go and spend some more when you get bored. Dig deeper in your pocket etc... It could be wise to listen to songs like that when you are an investor in stock markets , no matter if you're a small or big investor,even if you don't invest in stock markets it 's better to listen to it.