Greenspan did nothing. That's why they kept him in there. Greenspan did not believe in Lassaiz Faire economics. He believed in Lazy-Fare economics, and still does. Harry Reid can complain all he wants. Alan Greenspan is richer than Reid will ever be. Let Harry eat cake!

I blame Congress when they have enacted tax loopholes for companies to ship their Manufacturing Jobs overseas and still retain the profit margins because they are US based. What's left for the average US Worker besides low paying service sector jobs. Then they let the WTO dictate what goods other countries can dump on the US and not enforce fair trade policies. Mr. Reid better get his "Blame Game" in order and start pointing fingers at the mirror. Talk is cheap, lets see some action from the big mouths.

This just goes to show how much of a jerk Reid really is!!!!!!!

Emanuel is just another Dem who thinks they can earn their pay by standing up blaming Bush for all the woes of America. He needs to be the first in line to offer his paycheck from 2007 back to the tax payers for being "dead weight". We taxpayers are looking at these democrats the same way we look at the bully on the play ground who keeps saying, "Billy did it! Billy did it!". After a while you look at poor Billy and figure out he is just a good little kid getting the blame for what the bully has been doing. The Dems need to shut up and get to work for a change.

Harry Reid......What an idiot!

So what? He was blessed by George the Holy and therefore has the right to laugh at the people who get hurt by the policies.

Of course, the Democrats don't want to hold the companies - and their CEOs - who sold these worthless mortgages accountable. That might cut into campaign contributions.

Typical democratic jargon: blame somebody else. Actually, what it is left out of this sub-prime journalism is the history behind it. Sub-prime mortgages were concepted and instituted during the Clinton Presidency to help low and middle class Americans obtain mortgages to purchase houses - remember? Helping people to purchase houses is not itself a bad thing. However, the approach and methodology in which the President Clinton's team implemented the program was. Additionally, Senator Reid is partially correct in stating that the former Chief is somewhat responsible for the current state of affairs given his lack of forecasting such an event from occurring and proposing corrective action.

And now you know the rest of the story!

Sub-prime mortgages were concepted and instituted during the Clinton Presidency to help low and middle class Americans obtain mortgages to purchase houses - remember?

Reference to Alan Greenspan, an extreme example, as a "political hack" can be applied to the Federal Reserve regardless of who is its Chair. While scurrying around the country promoting his book, a compilation of distorted "facts," Mr. Greenspan takes no responsibility for the mortgage meltdown and economic bust facing this nation. Mr. Greenspan was instrumental in the implementation of the tax cuts for the wealthy, low-interest "easy money" lending, championed deficit spending, endorsed the privatization of social security, supported the Iraq War, etc., etc., and basically implemented and/or cheer leaded whatever "policies" the Bush Administration advocated. Of course, in his book and on the talk show circuit, he whistles a different tune to deflect criticism of his actions as the Fed Chair. Much of what America faces today regarding an overall meltdown of the economy can be attributed to the actions and non-actions of Alan Greenspan for whom the position as Chair of the Federal Reserve was more of a "play thing" and cozying up to the President, Mr. Bush in particular. Furthermore, the usefulness of the Federal Reserve, as truly an instrument of implementing the proper monetary policy, absent political brown-nosing, must be reexamined so as to determine its future. Whether Mr. Greenspan attended too many cocktail parties while "Rome" was burning is a matter I leave to Senator Reid's judgment.

Each election I come close to voting straight ticket for Democrats and cannot imagine ever voting for a Republican. But I will say that Harry Reid is a do-nothing, twerp.

Wow. How'd Reid get between Schumer and that microphone?

Just send me my money back, I need to pay some bills.

CAN YOU BEAT THIS........NOW ITS ALAN GREENSPANS FAULT...THEY DON'T KNOW WHO ELSE TO POINT THE FINGER AT.....

Regulations has been around for history I thought. What has to our current events based on lack of history

In recent memory, Harry Reid is the biggest idiot that ever made it to congress.

Everyone is pointing the finger. Personally my thoughts are we as americans are at fault. Turning the other cheek on the elected government officials that we voted in (lies, scandals,bribes[lobbist],and cheating).
What about all the money we let them send to other countries, when we can't take care of our own. How about the large sum of money that is wasted on elections? How about the money we spend on security for retired government offials. We as AMERICANS have important issues to deal with at home, without going to other countries to find more.

Has everyone forgotten that Bernanke and his crew couldn't wait to raise interest rates, supposedly to ward off inflation. They raised them 8 times right off the bat. Now the economy is in a tail spin. This happened in the 80's and it caused the construction industry to come to a stand still. It will take a lot longer to fix than it took to cause. People get wiser as to the problems they've been caused and the losses they've suffered because of the Fed's economic meddling therefore they stop spending when the rates are high and wait for them to come back down. Average people are a lot smarter than the politicians think they are and each time the Feds pull this interest rate fiasco the people are a lot less likely to fall for it next time around. Plain and simple they raise we hold.

What is playing the blame game going to fix? This is why the Democrats never get anything done; to busy playing the blame game and pointing fingers. As long as the Democrats are busy pointing fingers they will not have time to come up with any solutions. Then after someone else comes up with a solution and put it's to action they can come to the rescue and tell them how wrong they are. Democrats need work!

the dems where full of Greenspan´s praises when eccommy chuging along. what we do need is taxcuts for working americans. not give aways to the rich, or non workers.

What the hell does Harry Reid know? He's a proven boob. Chuck is better, but has his moments too.

Scape Goats, whipping boys, which do you choose? Individual Americans should blame themselves for the Home Crisis. Uneducated people getting loans and being had. Ignorance is bliss. Easy to pull the wool over Americans and every non American is laughing.

How many of you are still buying products, or are you stashing you money? And, if you are buying, are you buying US products of imoprted items? The Stock MArket is not in a crash, there is a bit of a recession, but the stock market is still up there. The big problem is too many people want to buy on credit. I did that myself and am in a big hole. And then people are so burried in their credit they can't afford it. The housing is a case of everyone wanted a big fancy house they could not afford, they go tlow rates on adjustable rates and spent as much as their paycheck would afford. when those rates adjusted, they could no longer afford them. And that is not completely the consumers fault, the lenders want to make money and don't educate the borrower enough and the whole thing goes to hell. The GOVERNMENT (not Bush, Everybody) has a responsiblity in this. In the 80's(i think) everything was about deregulation, get the government out of the businesses. Now the businesses get greedy on are screwing the American People. Stop the Party Politics, say no to Democrats, say no to Republicans, say yes to America.

Remember, tax cuts for the wealthy were supposed to shore up this economy. So why didn't they. Oh, I forgot, the wealthy don't spend money -- they make money. Only the middle class spends money, but they got no tax cuts, so the money dried up, and the middle class stopped buying.

People are so simple sometimes, and the ignorance of those whom presume themselves to be our leaders is astounding. The economy has has come to a grinding halt because expectations are not aligned with reality. It is as simple, and as complicated as that. People convince themselves that these things are always someone else's fault, when in reality, we all own a piece of the blame. Anyone who takes out a loan for a house, is predicting they can pay it off. Anyone who owns a credit card, is hoping they can pay off their charges. Anyone who takes out a college loan, hopes they get a good job after they get their degree and pay it off. Anyone who invests in a company or business expects double-digit ROI. We're a nation of wishful thinkers, and unfortunately, not everyone that invests in a lottery ticket, collects the prize. Sadly, some people spent the money they received for the sale of the family cow, on magic beans. While some have more influence on this situation than others, I still find myself kicking my own butt for getting sucked into the scam of the American Dream. Fortunately for me, I still have time to fix that.

It is true we have a train wreck in the Whitehouse. BUT...Bush's spending on Iraq and elsewhere were to a large extent done so from borrowed funds, not from domestic sources.

Greenspan as well should take little blame for the credit mess. His dilemma was either to (1)lower interest rates and stay out of recession (for which the democrats castigate him) or (2)raise interest rates to prevent the popping of an economic secular bubble (such as the tech bubble)and curb inflation (for which the democrats castigate him). Either way, he's a target. Its so simple to see and so frustrating. Our country will never come out of this split partisanship until our government is paralyzed and we face extinction. And of course, then no one wins!