GREENSPAN: THE FINANCIAL CRISIS IS MORE SERIOUS SINCE WORLD WAR II

May 20, 2009
Category: Sacramento Real Estate

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GREENSPAN: THE FINANCIAL CRISIS IS MORE SERIOUS SINCE WORLD WAR II

The former president of the U.S. Federal Reserve (Fed), Alan Greesnpan believes that the crisis will end when housing prices stabilize.
The former president of the U.S. Federal Reserve (Fed), Alan Greenspan believes that the financial crisis that is facing America, and in part the rest of the world, is "the worst since the end of World War II World. "
In an article published yesterday in the Financial Times says it will end "when home prices stabilize and with them, the value of the shares of households linked to subprime mortgages."
Greenspan expected to gradually return confidence to the markets, but so that this will occur some time yet. The former head of U.S. monetary policy Undios recognizes that this crisis negatively affected the current system of risk assessment.
"The symptoms are clearly there. Recessions do not occur in a smooth and generally are identified by discontinuities in markets, and the data of recent weeks could very well go in that direction, "says baGreenspan.
On the other hand, the former Fed chairman became advisor to the hedge fund Paulson & Co which recorded significant benefits related to the difficulties in credit markets last year, announced the investment firm.
Specifically, Greenspan incorporaró the board of advisors of the New York investment firm, whose portfolio of assets is around 28,000 million dollars.
Meanwhile, Alan Greenspan, who has played different roles as a consultant to Deutsche Bank and Pacific Investment Management Corporation (Pimco), said that Paulson & Co. is one of the hedge fund leaders in the world that hopes to provide his perspective on the global economy

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This entry was posted on Wednesday, May 20th, 2009 at 11:30 pm and is filed under Real Estate Sacramento . You can follow responses to this entry Any-through the RSS 2.0 feed. You can leave a response , or trackback from your own site.