CNBC & Media manipulate Voter Perception on Greenspan's take on Bush & Iraq

http://youtube.com/watch?v=AJd_xtJuC_Q ^ | 9-17-07 | MrArbitrage123

[MrArbitrage123]

If all you did was read or listen to the news headlines today you would have to conclude that Alan Greenspan must have just taken a job with moveon.org

There is much more to the story about Alan Greenspan’s position on President Bush and the war in Iraq. In fact, he supported the move to take out Hussein and said he would vote GOP today.

There is much more to his comments than what the media asserts in the headlines but how many people will take the time to actually watch a long interview with the former Federal Reserve Chairman or take the time to read his epic?

Here is my theory on their deliberate manipulation of voter sentiment and the overly dramatic headlines of the so-called “explosive allegations” made by Greenspan as reported by Maria Bartiromo.

http://youtube.com/watch?v=AJd_xtJuC_Q

[Rudder]

Rush made this very point on his show today.

[montag813]

Regardless, Greenspan is a villain who pushed Americans into taking out ARMs, and lenders into lowing requirements to ease loans, and then threw them all under the bus with 18 straight rate hikes.

[Lee'sGhost]

“Regardless, Greenspan is a villain who pushed Americans into taking out ARMs,. . .”

Huh? I’ve ALWAYS seen ARMs as a crap shoot at best, a fool’s game at worst. How did Greenspan “push” people into to taking ARMs they did not want?

[Badeye]

Rush says this misrepresentation began with the London Times.

[MrArbitrage123]

Rush made this very point on his show today. That's interesting. I haven't been able to listen to Rush for over a year since I started my own company. I guess he beat me to the punch although it's not surprising because it is so obvious when you actually watch the interview. The problem is, how many people would watch the interview versus reading the headlines. The headlines are unavoidable. The media have latched on to that one sentence and have it posted everywhere you look. Even IF Greenspan actually held the view that the war was unjust (WHICH HE CLEARLY DOESN'T), even so, what makes a Federal Reserve Chairman of all people an authority on war? You would think the Secretary of War made such a statement based upon the degree of credence assigned. I heard people on CNBC referring to Greenspan's "public service". What a bunch of crap. They are spinning it as though the Federal reserve is a branch of government i.e., the Legislative,the Executive, the Judicial & the Federal Reserve.

[montag813]

Huh? I’ve ALWAYS seen ARMs as a crap shoot at best, a fool’s game at worst. How did Greenspan “push” people into to taking ARMs they did not want?

Greenspan on Apr 22, 2004 recommended that Americans take out ARMs, and that lenders offer consumers "different options"--in other words SUBPRIME mortgages. (ARMs may be a Better Deal (Apr 22, 2004))

A shocked Suze Orman tried to warn people against Greenspan's advice, but subsequent articles show many consumers took his advice. I remember CNBC gave huge press to the ARMs advice and his suggestion to loosen loan criteria at the time.

More than any single individual, this old scumbag was responsible for the subprime mess we are now experiencing. Yet the MSM treats him like a rockstar because he's bashing Bush and praising Clinton. Republicans need to take out the long knives for this bastard, tell the truth about his incompetant stewardship of the Fed, and haul his senile ass before Congressional hearings to answer for what he did.

[Lee'sGhost]

OK, I agree with all that. Still, it doesn’t mean he “made” people do it. It was stupid advice, though.

Hey! He could be bedding down little boys and it would be OK as long as he were bashing Bush.

[Froufrou]

Not all the ARMs are bad news. We got a 4.25% VA Hybrid with no increases for the first 5 years, then only 1% per year after that for no more than 5 years. 9.25% is the worst it can get and we’re still at 5.25%. The best offer to refi has been 6.25% so we’re staying put.

[SFC Chromey]

“Regardless, Greenspan is a villain who pushed Americans into taking out ARMs,. .

---

Nobody twisted their ‘arms’... Also ARM’s are great if rates are dropping. Didn’t see any complaints about ARM’s then!

Too many people inflated their earnings to “qualify” for the easy money loans. Too many ads stating no SSN required. Those firms are the ones hurting now.