The "Amazingly Dumb Quote of the Day Award" has to go to Alan Greenspan today:
Former Federal Reserve Chairman Alan Greenspan told Congress on Thursday he is "shocked" at the breakdown in U.S. credit markets and said he was "partially" wrong to resist regulation of some securities.
Despite concerns he had in 2005 that risks were being underestimated by investors, "this crisis, however, has turned out to be much broader than anything I could have imagined," Greenspan said to the House of Representatives Committee on Oversight and Government Reform.
"Those of us who have looked to the self-interest of lending institutions to protect shareholder’s equity (myself especially) are in a state of shocked disbelief," said Greenspan, who stepped down from the Fed in 2006.
What do you think should have happened, Mr. Greenspan? Securities should have been "partially" regulated? Wasn’t the SEC doing that already?
Sorry sir, but you were flat out wrong. "Partially wrong" is like "kind of pregnant".
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Twist, we’ve made huge strides. At least he has now accepted partially. You know like partially pregnant. We’ll get there
John – thought you might be interested: some electronic votes reportedly automatically flipping.
UGH – electronic/touch-screen voting is a terrible idea.
http://www.bradblog.com/?p=6547
MikeC -
Vote Flipping? (I hope the price rises in the meanwhile
)
twist -
This just in from Calculated Risk, and it’s on-topic!