{"id":4838,"date":"2010-03-19T15:33:31","date_gmt":"2010-03-19T20:33:31","guid":{"rendered":"http:\/\/blogs-devl.bu.edu\/bunow\/?p=4838"},"modified":"2011-01-20T15:15:10","modified_gmt":"2011-01-20T20:15:10","slug":"greenspan-notes-feds-flaws","status":"publish","type":"post","link":"https:\/\/blogs-devl.bu.edu\/bunow\/2010\/03\/19\/greenspan-notes-feds-flaws\/","title":{"rendered":"Greenspan notes Fed&#8217;s flaws"},"content":{"rendered":"<p><img loading=\"lazy\" class=\"alignright size-thumbnail wp-image-4839\" src=\"http:\/\/blogs-devl.bu.edu\/bunow\/files\/2010\/03\/Alan-Greenspan-150x150.jpg\" alt=\"Alan Greenspan\" width=\"150\" height=\"150\" \/>Ex-Federal Reserve Chairman Alan Greenspan has acknowledged the Fed&#8217;s <a title=\"failure\" href=\"http:\/\/www.nytimes.com\/2010\/03\/19\/business\/economy\/19fed.html?ref=todayspaper\" target=\"_blank\">failure <\/a>to grasp the magnitude of the housing bubble,\u00a0but offered\u00a0some policy prescriptions to avoid another crash.\u00a0 Economics Professor <a title=\"Laurence Kotlikoff\" href=\"http:\/\/people.bu.edu\/kotlikoff\/\" target=\"_blank\">Laurence Kotlikoff<\/a>, whose new book &#8220;<em><a title=\"Jimmy Stewart is Dead\" href=\"http:\/\/www.amazon.com\/Jimmy-Stewart-Dead-Financial-Strikes\/dp\/0470581557\/ref=sr_1_9?ie=UTF8&amp;s=books&amp;qid=1259679868&amp;sr=8-9\" target=\"_blank\">Jimmy Stewart is Dead<\/a><\/em>&#8221; is about bankings&#8217;s future, applauds Greenspan for saying banks should have to hold bonds that automatically covert to equity when capital falls below a certain threshold.<\/p>\n<p><em>&#8220;That&#8217;s a big step toward \u2018Limited Purpose Banking,\u2019 which I&#8217;ve been proposing and which Bank of England Governor Mervyn King is very strongly considering.&#8221;<\/em><\/p>\n<p>Contact Laurence Kotlikoff, 617-353-4002, <a href=\"mailto:kotlikoff@bu.edu\">kotlikoff@bu.edu<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ex-Federal Reserve Chairman Alan Greenspan has acknowledged the Fed&#8217;s failure to grasp the magnitude of the housing bubble,\u00a0but offered\u00a0some policy prescriptions to avoid another crash.\u00a0 Economics Professor Laurence Kotlikoff, whose new book &#8220;Jimmy Stewart is Dead&#8221; is about bankings&#8217;s future, applauds Greenspan for saying banks should have to hold bonds that automatically covert to equity [&hellip;]<\/p>\n","protected":false},"author":114,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[4491],"tags":[2496,2498,577,2497,2396],"_links":{"self":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/4838"}],"collection":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/users\/114"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/comments?post=4838"}],"version-history":[{"count":6,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/4838\/revisions"}],"predecessor-version":[{"id":7836,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/posts\/4838\/revisions\/7836"}],"wp:attachment":[{"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/media?parent=4838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/categories?post=4838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs-devl.bu.edu\/bunow\/wp-json\/wp\/v2\/tags?post=4838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}