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Greenspan's Interview on CBS "60 Minutes"




After watching the interview, the gist:

Presidents and Traits:

His best experience with a President: Bill Clinton " the brightest"
Bush #1: Pressured the Fed Publicly
Bush#2 and the Vice Pres: Considers VP a big "spender"
Ford: Integrity
Nixon: Swore a lot

Greenspan admits he "had no notion of how significant they had become" in terms of the MBS market and other derivative markets.

He would not comment on any of his investments.

He admitted as an economist, that "one should be diversified in currencies" (I was surprised that he did not favor the dollar)

He feels after this credit "issue" euphoria will return. (thats not saying much)

Finally, he feels that the biggest issue facing the economy is actually "inflationary pressures"

Thats one way of stating that the dollar is about to get alot weaker over time.

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