From Greenspan foresees recession, makes endorsement by Christopher Hinton:
Former Federal Reserve Chairman Alan Greenspan has endorsed Republican Sen. John McCain for president, according to Reuters, which cited an interview in El País published Sunday.This would be the same Alan Greenspan featured in this USA Today piece from 2/23/2004 Greenspan says ARMs might be better deal:
"I'm Republican and I support John McCain, who I know very well and who I respect a lot," Greenspan reportedly said of the Arizona senator, according to El País.
Federal Reserve Chairman Alan Greenspan said Monday that Americans' preference for long-term, fixed-rate mortgages means many are paying more than necessary for their homes and suggested consumers would benefit if lenders offered more alternatives.So much for Alan Greenspan being able to forsee the future. John McCain? No thank you Mr. Greenspan. Your endorsement means nothing to me.
In a standing-room-only speech to the Credit Union National Association meeting here, Greenspan also said U.S. household finances appeared generally sound, despite rising debt levels and bankruptcy filings. Low interest rates and surging home prices have given consumers flexibility to manage debt, he said.
"Overall, the household sector seems to be in good shape," Greenspan said.
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