Alan Greenspan, the former Federal Reserve chairman told the Financial Times that the U.S. government may have to temporarily nationalize some banks in order to ensure credit flow, restore the confidence and fix the financial system. More republicans are favoring the U.S. bank nationalization.

Greenspan warns Bernanke and the US people not to use the magical piggy bank which is the Federal Reserve's ability to make up money out of thin air. Only Greenspan denies that the magical piggy bank is real. HAHAHA. He accidentally told the truth! The Federal Reserve can and will and does make money out of thin air.

Hillary Clinton proposes Alan Greenspan to lead a “foreclosure group” which is supposed to determine whether the government should buy up houses to stem the housing crisis:

Former Federal Reserve chairman Alan Greenspan has warned that plans announced this week to launch a so-called “super fund” – a dramatic attempt by major investment banks to ease the crisis facing credit markets – could have dire repercussions.

Alan Greenspan, in an interview by the Financial Times, indicated that the decline in house prices is "going to be larger than most people realize." However, he also warned that the Fed should be careful not to ease rates too aggressively because the risk of "inflationary resurgence" was greater now than when he headed the Fed.

Alan Greenspan belongs to the Club of Emasculated Moderate Elites who enabled corporate theocrats to destroy the American Dream at home and annihilate our moral authority abroad. A prerequisite for membership is to first allow crazy ideologues to exploit their prestige and later disown the disastrous policies their reputations facilitated. Former Secretary of State Colin Powell is a charter member of this club and a pathetic figure who criticizes the Bush Administration about Iraq when it no longer matters.

Deutsche Bank today announced its retention of Dr. Alan Greenspan, former chairman of the Federal Reserve Board, as a Senior Advisor to provide ongoing advice and insight to Deutsche Bank's investment banking team and its clients by sharing his perspective and opinions on a range of issues affecting markets.