Monday, April 7, 2008

And Another Reason Why I Won't Be Voting For John McCain

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.

"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.
This would be the same Alan Greenspan featured in this USA Today piece from 2/23/2004 Greenspan says ARMs might be better deal:
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.

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.
So much for Alan Greenspan being able to forsee the future. John McCain? No thank you Mr. Greenspan. Your endorsement means nothing to me.

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