Greenspan: Credit market is in "state of fear"

Oct. 23 (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan said credit markets are in a ``state of fear,'' instead of a ``state of euphoria'' where investors are buying.

``We're now in a state of fear,'' Greenspan said in Chicago at the Midwest ACG Capital Connection conference, a gathering of investment bankers and private-equity companies. Greenspan was discussing commercial paper and structured investment vehicles.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aQshVLZRFeDw&refer=home

 

What does he know? Nothing!!

I know everything there is to know about the shrimpin business.

 

Every thing he says is so obfuscated that its hard to really know exactly what the hell he said.

 

again with this recession odds crap

Greenspan today also reiterated previous remarks that he sees ``less than 50-50'' odds of a U.S. recession, saying the country will probably avoid such an outcome. Still, he said there's a ``long way to go'' before home prices stabilize.

very insightful, thanks for nothing

 

He should just STFU and get on with his retirement.

 

Bubba: Anyway, like I was sayin', shrimp is the fruit of the sea. You can barbecue it, boil it, broil it, bake it, saute it. There, uh, shrimp kabobs, shrimp creole... shrimp gumbo, panfried, deep fried, stir fried. There's pineapple shrimp, lemon shrimp, coconut shrimp, pepper shrimp... shrimp soup, shrimp stew, shrimp salad, shrimp and potatoes, shrimp burger, shrimp sandwich... that's, that's about it.

 

He must be getting paid for this; hes been speaking way too much lately with way too little to actually say.

 

the way he talks makes it sound like the stock market is headed for a 20% correction....the reason why he doesnt sound accurate about what he is saying is because the stock market is ignoring nearly every piece of bad news thats out there.

 

He was recently interviewed on the tube and was ask about predicting the markets using economic indicators.

He said it wasn't very accurate and after all these years of study that he wasn't any better at it now than when he graduated from college.

I had to laugh and decided that all that round and about bullshit that he spews was just a cover up. But then we already knew that anyway.

 

He's 100 percent right.

As an example Jumbo mortgages have 2% premium tacked on to them even for A credit borrowers. Why? Because there's no secondary market for them...there's no one to buy even the best tranches. The nuclear waste tranches can't get funded or bought at any price.

This is not good. This workout is probably a 3 or 4 year process.