yahoo: Greenspeaks: House prices to go much lower

Click on the post for the latest from Alan Greenspan who spoke in Vienna on Friday.

I have purchased Alan's latest book, "The Age of Turbulance" in which he reviews in depth what he also said in the speech on Friday----that the Fed was was powerless in its efforts to rein in the inflationary boom of housing prices. That is the press release he wants to be accepted as truth---we will examine whether that is really so. Stay tuned.

On the the little knows facts about the Crash of 1929 was the role of Joe Kennedy in making money off the declining market. There were no "short sale rules" at that time, and thus gangs of "bears" would spread rumors in order to help the market go further down. All fair game in those days. He made his fortune short selling. In fact, he learned so much that when the reforms were reviewed such as the Securities Act of 1933 etc. , he was asked by the President to help devise rules so it could not happen again.

One thing was not regulated----the "trash talking" of former Fed officials. Maybe that should have been addressed.

Stay tuned to the Evansville Observer.