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Subject:  What a Jerk! Date:  9/7/2007  5:40 PM
Author:  BuildMWell Number:  26857 of 41990

Today, the market dropped like a stone to a large degree because Alan Greenspan ran off at the mouth. He needs to learn to keep his trap shut because his thoughts are always used by Wall Street to over-sell the worst case scenario. Let's take a look at the financial guru's ideas:

"The behavior in what we are observing in the last seven weeks is identical in many respects to what we saw in 1998, what we saw in the stock-market crash of 1987, I suspect what we saw in the land-boom collapse of 1837 and certainly [the bank panic of] 1907," Mr. Greenspan told a group of academic economists in Washington, D.C., last night at an event organized by the Brookings Papers on Economic Activity, an academic journal." - Alan Greenspan

For the whole story you may go to:

http://money.aol.com/news/articles/_a/greenspan-likens-market-turmoil-to-1987/20070907063909990001

Here is what I think. I agree 100% with that Mr. Greenspan said. He is absolutely correct, the behavior of the market is reminiscent of all of those previous catastrophes, but is it really the same? I say it is very different in almost every way...except for the silly volatility. Today is another example of the same thing and I blame it on Greenspan's mouth. The whole thing is gamesmanship by Wall Street, not the failure of the underlying strengths of our economy or over-valuation by the brokers.

What Greenspan is looking