{"id":194059,"date":"2008-10-28T23:02:00","date_gmt":"2008-10-29T04:02:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/10\/28\/the-greenspan-putz\/"},"modified":"2008-10-28T23:02:00","modified_gmt":"2008-10-29T04:02:00","slug":"the-greenspan-putz","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/10\/28\/the-greenspan-putz\/","title":{"rendered":"The Greenspan Putz"},"content":{"rendered":"<p>No, it&#8217;s not a typographical error, it&#8217;s a great play on the concept of, &#8220;The <a href=\"http:\/\/en.wikipedia.org\/wiki\/Greenspan_put\">Greenspan Put<\/a>&#8220;<\/p>\n<p>The indispensable Barry Ritholtz of <a href=\"http:\/\/bigpicture.typepad.com\/comments\/2008\/10\/headline-of-the.html\">The Big Picture<\/a> found an article of that title by Alan Kohler: <\/p>\n<blockquote><p><a href=\"http:\/\/www.businessspectator.com.au\/bs.nsf\/Article\/The-Greenspan-putz-KPS7Y\"><strong><span style=\"font-size:180%;color:#000099;\">The Greenspan putz<\/span><\/strong><\/a><span style=\"color:#000099;\"><strong><span style=\"font-size:180%;\"><br \/><\/span><\/strong><br \/>&#8230;<\/p>\n<p>As Alan Greenspan said in his testimony to Congress last night: \u201cWith \u2026 home prices rising, delinquency and foreclosure rates were deceptively modest. Losses were minimal. To the most sophisticated investors in the world, (mortgage securities) were wrongly viewed as a \u2018steal\u2019.\u201d<\/p>\n<p>Unsophisticated investors didn\u2019t stand a chance.<\/p>\n<p>Now the \u201csteal\u201d is going to work the other way. Mortgage securities vehicles everywhere are being liquidated because their risk is being repriced \u2013 in most cases dramatically, to the point where investors don\u2019t want their money in them at all.<\/p>\n<p>&#8230;. <\/span><\/p><\/blockquote>\n<p>I am amused, though I would disagree with the characterization. A putz has a head.<\/p>\n<p>This has been another episode of Yiddish vocabulary.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>No, it&#8217;s not a typographical error, it&#8217;s a great play on the concept of, &#8220;The Greenspan Put&#8220; The indispensable Barry Ritholtz of The Big Picture found an article of that title by Alan Kohler: The Greenspan putz&#8230; As Alan Greenspan said in his testimony to Congress last night: \u201cWith \u2026 home prices rising, delinquency and &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,1004,1003,985],"tags":[],"class_list":["post-194059","post","type-post","status-publish","format-standard","hentry","category-economy","category-finance","category-philosophy","category-regulation"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194059"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=194059"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194059\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=194059"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=194059"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=194059"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}