Comments on: The Real Difference Between Greenspan and Bernanke http://www.nakedcapitalism.com/2007/09/real-difference-between-greenspan-and.html Sun, 22 Nov 2009 20:52:22 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Anonymous http://www.nakedcapitalism.com/2007/09/real-difference-between-greenspan-and.html#comment-825 Anonymous Thu, 13 Sep 2007 23:51:00 +0000 http://www.nakedcapitalism.com/2007/09/the-real-difference-between-greenspan-and-bernanke/#comment-825 So far, Mr Bernanke is clueless from what I've seen.<br/><br/>My guess is that Chairman Ben won't serve out his full term. <br/><br/><br/>-A- So far, Mr Bernanke is clueless from what I’ve seen.

My guess is that Chairman Ben won’t serve out his full term.

-A-

]]> By: Anonymous http://www.nakedcapitalism.com/2007/09/real-difference-between-greenspan-and.html#comment-824 Anonymous Thu, 13 Sep 2007 22:21:00 +0000 http://www.nakedcapitalism.com/2007/09/the-real-difference-between-greenspan-and-bernanke/#comment-824 Buiter argues that exports are offsetting housing and that inflation credibility is on the line and at minumum that this justifies holding <br/><br/>http://blogs.ft.com/wolfforum/2007/09/challenge-of-re.html<br/><br/>At the FT (CBS) the Maestro backs Ben.<br/><br/>http://www.ft.com/cms/s/0/b8375ca4-621a-11dc-bdf6-0000779fd2ac.html<br/><br/>Some musings...<br/> <br/>Does a month make that much difference in staving off a recession? I think one might argue not. Does it avoid being lured into problems King has indentified?<br/>I think it might. Does it get you fingered for any problems in financial markets... probably. But not convincingly. But they seem to have subsided. <br/><br/>Does it get you fingered for a housing driven recession? Not if you play your cards right. Does it get you fingered for a financial markets driven recession? Not if it is housing driven and not unless I get the credit for the expansion... in which case.... Buiter argues that exports are offsetting housing and that inflation credibility is on the line and at minumum that this justifies holding

http://blogs.ft.com/wolfforum/2007/09/challenge-of-re.html

At the FT (CBS) the Maestro backs Ben.

http://www.ft.com/cms/s/0/b8375ca4-621a-11dc-bdf6-0000779fd2ac.html

Some musings…

Does a month make that much difference in staving off a recession? I think one might argue not. Does it avoid being lured into problems King has indentified?
I think it might. Does it get you fingered for any problems in financial markets… probably. But not convincingly. But they seem to have subsided.

Does it get you fingered for a housing driven recession? Not if you play your cards right. Does it get you fingered for a financial markets driven recession? Not if it is housing driven and not unless I get the credit for the expansion… in which case….

]]> By: Yves Smith http://www.nakedcapitalism.com/2007/09/real-difference-between-greenspan-and.html#comment-821 Yves Smith Thu, 13 Sep 2007 19:59:00 +0000 http://www.nakedcapitalism.com/2007/09/the-real-difference-between-greenspan-and-bernanke/#comment-821 It turns out the story is now listed on the Bloomberg site as an exclusive (it wasn't last night) It turns out the story is now listed on the Bloomberg site as an exclusive (it wasn’t last night)

]]> By: Yves Smith http://www.nakedcapitalism.com/2007/09/real-difference-between-greenspan-and.html#comment-819 Yves Smith Thu, 13 Sep 2007 16:00:00 +0000 http://www.nakedcapitalism.com/2007/09/the-real-difference-between-greenspan-and-bernanke/#comment-819 dum,<br/><br/>You are correct that I can't prove that there wasn't an effort by the Fed to tell this story. However, I know people who run PR/corporate communication firms. The Fed is very much in the press these days, and there aren't a lot of other hot business stories (the state of the housing market is the only other one and that is tired).<br/><br/>It should not have been hard to get this story picked up if that was what the Fed wanted. The result, of only one news outlet running it, and that the one least read by the highest priority target, the mass audience, is not consistent with a professional media campaign.<br/><br/>And remember, in the Greenspan era it was Greenspan who was the focus of media attention. It seemed to be largely the result of his interest in being well liked (people I know who knew the Fed than said that was his biggest weakness) , perhaps having some good coaching, and having a long tenure in a less media savvy era (ie Greenspan could also experiment a bit. My dim recollection is he didn't get really fawming coverage until the mid-late 1990s). Greenspan's position with the media was not the result of an institutional effort. dum,

You are correct that I can’t prove that there wasn’t an effort by the Fed to tell this story. However, I know people who run PR/corporate communication firms. The Fed is very much in the press these days, and there aren’t a lot of other hot business stories (the state of the housing market is the only other one and that is tired).

It should not have been hard to get this story picked up if that was what the Fed wanted. The result, of only one news outlet running it, and that the one least read by the highest priority target, the mass audience, is not consistent with a professional media campaign.

And remember, in the Greenspan era it was Greenspan who was the focus of media attention. It seemed to be largely the result of his interest in being well liked (people I know who knew the Fed than said that was his biggest weakness) , perhaps having some good coaching, and having a long tenure in a less media savvy era (ie Greenspan could also experiment a bit. My dim recollection is he didn’t get really fawming coverage until the mid-late 1990s). Greenspan’s position with the media was not the result of an institutional effort.

]]> By: dug http://www.nakedcapitalism.com/2007/09/real-difference-between-greenspan-and.html#comment-815 dug Thu, 13 Sep 2007 09:24:00 +0000 http://www.nakedcapitalism.com/2007/09/the-real-difference-between-greenspan-and-bernanke/#comment-815 Comparing this post with your previous one, couldn't one equally conclude that the Fed would <i>love</i> to get this message out beyond Bloomberg, but the other media outlets aren't interested? I don't imagine the Fed would see the need to get the message into the FT; the WSJ won't touch it because it goes against their own line; so the only one to explain is the NYT.<br/><br/>I can't distiguish between your concerned explanation that it's a story Bloomberg just ferretted out, and that the Fed is still getting the hang of planting this kind of story, so NYT didn't bit. Comparing this post with your previous one, couldn’t one equally conclude that the Fed would love to get this message out beyond Bloomberg, but the other media outlets aren’t interested? I don’t imagine the Fed would see the need to get the message into the FT; the WSJ won’t touch it because it goes against their own line; so the only one to explain is the NYT.

I can’t distiguish between your concerned explanation that it’s a story Bloomberg just ferretted out, and that the Fed is still getting the hang of planting this kind of story, so NYT didn’t bit.

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