Alan Greenspan

Without Taxpayer Aid, Too Big to Fail Banks Would Only Break Even

Today brings what seems like a minor milestone in the big banks' fall from grace: a Bloomberg editorial announcing that Wall Street's largest firms would not be profitable without taxpayer backstops, and calling for an end to the perverse incentives that this arrangement produces.

The Hair Index: What Your Cut Says About the Economy

The oracles who read economic tea leaves have a host of conventional forecasting tools, but housing starts and job growth figures can only tell you so much. To cut through the haze of data, sometimes it takes an unconventional indicator -- for example, the Hair Index.

Greenspan: Rising Stock Markets Are Key to Recovery

The former Fed chief told CNBC Friday that the Fed's policy to boost liquidity is helping stock values. "I think we are underestimating. . .how important asset prices, very specifically equity prices, are not only to shareholders but the economy as a whole," he said.

Greenspan: Deficit Fears Could Trigger Bond Market Crisis

The U.S. must act to rein in its massive budget deficits or face the risk of a bond market crisis, former Fed Chairman Alan Greenspan said Sunday. If deficits begin to frighten the bond market, interest rates will rise, undermining the recovery, and possibly causing a double-dip recession.

Why the Fed's Economic Plan Is Failing

Bernanke & Co.'s zero-interest-rate policy is backfiring or having even more pernicious results. Only the wealthy benefit from rising financial assets, as average Americans -- encouraged to add to their indebtedness -- are further impoverished. Risky speculation is again being rewarded.

Growth May Still Leave 95% of Americans Behind

America's big income disparity is creating an economy that's dependent on the spending and investing of the wealthiest. As a result, economic growth may increasingly mean 95% of Americans are still not doing better financially.

Greenspan: Repeal All the Bush Tax Cuts

Former Fed Chairman Alan Greenspan is calling for the complete repeal of the Bush tax cuts, a position that goes further than that of the White House. President Obama advocates keeping tax rates steady for all but the richest Americans.

Ahead of G-20, Obama Pushes 'Balanced' Approach

G-20Next week, the G-20 summit will get under way in Toronto, but political posturing and grandstanding among the nations has already begun. In a letter to G-20 leaders, President Barack Obama says, "We must act together to strengthen the recovery."

Greenspan Sees More Oomph for the Economy

Former Federal Reserve Chairman Alan Greenspan said Sunday that apart from the residential and commercial real-estate markets, the economy is "showing some buoyancy" and he expects the pace of job creation to pick up.

Ayn Rand, Thomas Malthus, and the Cost of Bad Ideas

The philosophical ideas of three writers, taken to illogical extremes, have wreaked havoc on the world's economy. Here, a look at the danger of embracing the wisdom of James Surowiecki, Thomas Malthus, and Ayn Rand.

Greenspan warns of capital shortfall

I know you've just been staying up nights wondering when you would hear from him again, but Federal Reserve Chairman Alan Greenspan emerged yesterday...