The Return of Greenspan...Almost

In my ealier post I predict that the new president will reinstate the Maestro. Today's news stories may be a first step in that direction...


Clinton proposes Greenspan lead foreclosure group
Mon Mar 24, 2008 9:29am EDT

WHITE PLAINS, New York (Reuters) - Former Federal Reserve Chairman Alan Greenspan and other economic experts should determine whether the U.S. government needs to buy up homes to stem the country's housing crisis, Democratic presidential candidate Hillary Clinton will propose on Monday.

Clinton, a presidential candidate and senator from New York, said the Federal Housing Administration should "stand ready" to buy, restructure and resell failed mortgages to strengthen the ailing U.S. economy.

"Just as it has in the past, this kind of temporary measure by the government could give our economy the boost it needs and families the help they need," Clinton will say, according to excerpts of remarks prepared for a speech in Philadelphia.

"It would not require a single new government bureaucracy, and would be designed to be self-financing over time -- so it would cost taxpayers nothing in the long run."

Clinton threw her weight behind legislation proposed by Democrats Rep. Barney Frank of Massachusetts and Senator Chris Dodd of Connecticut that would "expand the government's capacity to stand behind mortgages that are reworked on affordable terms."

But she said a bipartisan group should determine whether that approach was sufficient or whether the U.S. government should step in as a temporary purchaser.

The working group could be led by bipartisan economic heavyweights such as Republican Greenspan, Democratic former Fed Chairman Paul Volcker and Robert Rubin, the treasury secretary under President Bill Clinton.

Under the Frank plan, the government would take failing mortgages off the hands of investors and write new terms that would prevent foreclosure. It would see lenders write down the mortgage amount in exchange for a government guarantee.

The Return of Greenspan

I'm going on record that man or woman, Democrat or Republican, our next president is going to coax Alan Greenspan out of retirement for a two-year assignment as chief of the Central Bank. Far fetched? Crazy? Maybe, but with the way the economy is going and with the relative failure of Bernanke, I can't see how the new president wouldn't bring back the Maestro. Besides, the speaking circuit is going to get pretty boring at some point and my guess is he is missing the fun.

More on Consumer Generated Marketing

In support of my last post, check out P&G's new effort to get consumers involved in the marketing of Pringles in the UK.

Consumer Generated Marketing

Ok, an idea I had thought of some time ago is finally coming to the mainstream, consumer as marketer. We've known for years that consumers - through focus groups - have helped marketers better understand how people use their products and how to make them better. This has recently been pushed harder to a trend I see coming full-speed ahead - consumer generated marketing. I'm calling it.

Beginning Jan 1, 2008, a new site www.bootb.com is launching. The idea is simple, companies post their marketing briefs and assign a budget, Consumers then compete to develop campaigns to help solve the problem. The winners get 90% of the budget. Some samples on the site today include a new Disney project.

This is just the beginning.

Ageism On Steroids

Ok, get this, many people in the corporate communications world are so obsessed with the new digital divide (under 30 vs. over) that there are rumours about that no CEO wants a head of communications over that magical age. What I would like to call is a new ageism that apparenetly is real. Does this mean if you are over 30, you are cooked? I hope not but it does catch your eye. The one falacy with all of it of course is that age by itself is not a competitive advantage. Age by itself is not a differentiator. I went to a conference this month where the organizers had a recent college graduate stand up and introduce himself as a "digital native." He then lamented that all of the digital work in his agency was falling to him and his underlying message was he didn't know what he was doing.

I'd like to call two things: first, that age alone cannot carry the day. And secondly, that the smart ones will leap on board this digital train and keep honing their skillset while levergaing the assets of the their experience.

The Human Touch

I'm noticing a trend that I would like to call: the rash of social networking and life in the e-world, and the possible outcomes.

Given that literally everyone under 30 has a blog (Facebook is really a blog after all), I'm seeing that it is easier than ever before for people to voice their opinions. (Obvious.) Just look at Comcast Must Die and other consumer compliant sites, and you will see a new froth and range of consumers who feel they have been wronged. It is simple to complain or give priase (allright, mostly complain.) What is really interesting, however, is that while it is simple to complain online, it is much harder to have the guts to face conflict in the workplace or at home. In other words, many of those who are bold online would rather NOT send a poorly cooked meal back or not step up to a bully. And, with all these secret e-lives in motion, I believe there will eventually be a backlash and the next generation, while easily using technology, won't be so obsessed with it. Think about the major ups and downs of trends this century. The 20's gave Americans wealth until the end of the decade, the 30s despair, the 40s war, the 50s gave us an ideal and more war, the 60s Vietnam and the 70s free love. The 80s was a retun to family values, the 90s brought us GenX and a reworking of thinking about the corporate ladder and the 2000's a kind of funky complilation of all of it. So, look out for a return to the power of the human touch where those who can balance the e-world and the real world will thirive.

Mobile Solar

I'm calling it. Look out for solar panels mounted on the top of trucks and big rigs around the country. It is almost a no brainer. The only challenge is what will the power charge? This is also a natural for the Prius and other already hybrid cars. Let's give early kudos to UNLV for their solar golf cart and use it as a signal that we are wasting miles and miles of truck tops that can be generating free, clean energy!