So why was Greenspan replaced?

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Was he retiring or was he forced out?  

  Retired.  

  i hear retired but bush is trying to get one of his people in there? may possibly benefit us home owners if interest rates go down. anyone else?  

  

Originally Posted by reaListiK
i hear retired but bush is trying to get one of his people in there? my possibly benefit us home owners if interest rates go down. anyone else?

because he is dying   

  Well he is 137 years old...   

  B/c one of the good ol boys needed a job probably  

  

Originally Posted by russ330
Well he is 137 years old...

     

  isn't he like 90?  

  

Originally Posted by kendogg325
because he is dying

My bad keydogg. BTW - check your PM!   

  I heard Greenspan invented money.   

  

Originally Posted by reaListiK
i hear retired but bush is trying to get one of his people in there? may possibly benefit us home owners if interest rates go down. anyone else?

If anything, going by Ben Bernanke's background, he'll be more likely to raise interest rates at a higher rate than Greenspan than to reduce interest rates.  With that said, most likely he will just continue slowly raising it, which will be good for homeowners in the long run.  Low interest rates are only a short term boost for home owners (as could be seen these last couple of years).  Keeping rates low for too long, and inflation could drive home prices down much more than just a rise in interest payments.  In fact, Greenspan might have dipped too low before deciding to go back up.  This can be seen easily when you go to the supermarket and looking at prices.  

  

Originally Posted by russ330
I heard Greenspan invented money.  

Also: the base-10 number system.  

  The man did a greattt job given the individual circumstances throughout his term...he's been head of the fed for longer than many of you have been alive.
Hopefully the next guy won't screw anything up.  

  Greenspan is a genius compared to other Fed chairmans. He has had less errors in a longer time reigning.
The new appointment doesn't suprise me as he has been under the wing of Greenspan for many years. And was the most probably candidate going into the appointment. Bush knows nothing about finance in my opinion. Thus given the obvious pick.