Cranky Octogenarian Opens Mouth

From the AP:

Two weeks ago, Greenspan’s comments about the possibility of a recession occurring at the end of this year contributed to a 416-point fall in the Dow Jones industrial average.
The Dow had another big losing day on Tuesday, falling by 242.66 points, the second biggest drop of the year. But this decline was not driven by anything Greenspan said but rather investors worries about the subprime mortgage market.
During his appearance Tuesday, Greenspan talked about past market crises but not the most recent turmoil and he made no forecasts about the possibility of a recession.
Greenspan did put forward a proposal on how to reduce the growing inequality of incomes in the United States – admit more skilled immigrants into the country.

Posted by Eddy Elfenbein on March 14th, 2007 at 8:33 am

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