Quotes About Author

with the intent of ultimately seizing their homes);

Because the loan was effectively for the benefit of Bear,

by making it costly for them to refinance.

As we emphasized at the time, we took those actions not out of any consideration for their shareholders,

that a program of this size and importance should be undertaken with FOMC approval,

Why the support for subprime lending?

had been motivated by the need to act quickly, but, on reflection, I decided that they had a point. At

the results are not impressive.

By March 2010, we would phase out the auctions completely.

The FOMC supported my recommendation, with only Esther George dissenting, as she had all year.

but acknowledged his opposition to the idea.

Greenspan was known for his economic forecasting skills, having run a successful consulting firm,

courtyard. During the crisis I wished more than once that I could skip the office and sit with them for the day.

In an email, he recapped a particularly gloomy presentation by Martin

Legally, the decision had to be Bank of America's.

raising people's inflation expectations substantially, using only talk, is easier in theory than in practice.

bottom-up style of forecasting. He

Don, far from an optimist himself, thought that Feldstein's outlook was too dark.

I was dismayed to learn that the Labor Department's report on September employment, due out October 4, would be delayed by the shutdown.

securities at a time when many investors were shying away from them.

In truth, she had far more experience in Fed policymaking than I had had on taking office.

It was hard to ignore that kind of talk, and I worried that people would be misled by the absurd claims and charges

I told the other central bankers I appreciated their support. It was more than lip service. Each

that I couldn't blame the protesters for being dissatisfied.