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Consumer Corner: Foreclosure settlement no magic bullet for economy
WASHINGTON, April 9 (UPI) -- Former U.S. Federal Reserve Chairman Alan Greenspan said he has "no regrets" concerning his economic policies.
"I have no regrets on any of the Federal Reserve policies that we initiated back then," Greenspan said in a CNBC interview.
Greenspan has taken on the unfamiliar role in recent weeks of defending his previously applauded track record. Previously called "Maestro," for his years of economic policy-making, Greenspan is now referred to as "Mr. Bubble," for keeping interest rates low and failing to reign banks to head off what author and banker Charles R. Morris calls "The Trillion Dollar Meltdown," the Los Angeles Times reported.
House Financial Services Committee Chairman Barney Frank, D-Mass., has become one of Greenspan's detractors, calling his policies, "bifurcated," the paper reported.
But, Greenspan says hindsight is 20-20.
"In retrospect, do I think it would've been nice to have a higher record of forecasting accuracy? Of course. Do I think that it's possible? No," Greenspan said recently.
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BAGHDAD, Feb. 14 (UPI) --
U.S. supermajor Exxon Mobil won't be able to take part in an oil and natural gas licensing auction scheduled for May in Iraq, a spokesman said.
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WASGHINGTON, D.C., Feb. 13 (UPI) --
Defense industries are weighing the potential impact of proposed defense cuts running into tens of billions of dollars over the next 10 years.
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Local markets will probably not be swamped by waves of foreclosures following the multi-state mortgage settlement announced yesterday. Rather, the huge inventory of one to two million foreclosures will enter markets gradually....
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Investors will not have the distraction of financial reports to look forward to this week. They will have to look at the spot news headlines instead.
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