Wikinvest Wire

Henry Waxman versus Alan Greenspan

Wednesday, October 22, 2008

Henry Waxman (D - California) has assembled an interesting cast of characters for tomorrow's meeting of the House Committee on Oversight and Government Reform.
IMAGEThis might be good.

I don't ever recall hearing Henry Waxman asking questions of former Fed Chairman Alan Greenspan in all the years I've been following the many appearances of Federal Reserve board members on Capitol Hill.

With the luster quickly fading on his reputation - what, with the world financial system in a state of perpetual chaos and asset values eroding at an ever faster pace - it's about time somebody starting asking some tough questions about regulation (or the lack thereof) earlier in the decade.

Don't expect much from former Treasury Secretary John Snow.

If his tenure at Treasury is any indication, he'll have about as much insight as a potted plant regarding how regulation went so wrong a few year back.

And Christopher Cox?

Has there ever been a man who seems to be so completely overwhelmed on a daily basis?

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Anonymous said...

Question: "Mr. Greenspan, in 2004 you suggested homeowners could save thousands of dollars by switching from fixed rate mortgages to adjustable rate mortgages. My question is: how'd all that work out?"

little larry sellers said...

Greenspan should borrow Bernanke's timer and set it to five seconds so no one can ask him questions like that.

Q: "Mr Greenspan, in 2004 you suggested..."

Ding! Time's up! Next question!

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