Ace Greenberg of Bear Stearns on Obama, Bernanke, Warren Buffett
Earlier, former Bear Stearns Chairman Ace Greenberg appeared on CNBC and discussed a variety of economic topics.
On Obama, Greenberg stated that he has been handed more problems than any other president in recent years. Greenberg was amazed that the country has managed to bounce back from many problems.
Greenberg was asked about Warren Buffett's earlier interview, and he stated that he makes it a rule not to disagree with Warren Buffett.
On economic growth, Greenberg was asked if the markets recent movement was real growth or just easy money? Greenberg stated that, while Bernanke has been criticized, he has done marvelous job in a quiet way. Greenberg stated that his methods are working and he is hoping they continue.
Greenberg does not want to see aggressive LTRO, but thinks everyone is doing a "good job."
On the global economy, Greenberg stated that there are two spheres--Europe and the United States. Greenberg stated that the US can do well even if Europe does not do so well. The US economy is going in the right direction despite Europe's problems--the US is big country.
Greenberg stated that people should not blame the administration for the price of oil, as Obama cannot do much about global instability. Overall, he hopes that it goes down, but the economy can handle it if it goes up.
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