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This is huge. Even Alan “I heart Ayn Rand” Greenspan is now saying our financial system is infested by criminals. It’s quite possible that Greenspan was such a lockstep ideologue that he actually believed the Randian gibberish he spouted. But the banksters just used it as an excuse to plunder. Yet our federal government [...] The Federal Reserve in their customary pose protecting the public So says WaPo, citing community organizations who as early as 1999 begged the Fed to act against subprime, to no avail. But Alan Greenspan, an extreme right wing Ayn Rand disciple, was in charge of the Fed then. He just loved subprime, and creating [...] This from Alan Greenspan, whose Ayn-Rand-influenced, anti-regulatory, easy money policies at the Fed were a primary cause of the current financial crisis. He of course, takes no blame for any of it. Life is so simple when you are an extremist ideologue and convinced of your inerrancy. Yes, I’m blogging a lot about this. [...] Barron’s reviews “Deception and Abuse at the Fed: Henry B. Gonzalez Battles Alan Greenspan’s Bank.” Greenspan, who left the Fed in 2006 but is still consulted as a genius, might find a metallic exoskeleton exceptionally comforting come May, when the University of Texas Press publishes an unflattering book by Robert Auerbach entitled Deception and Abuse [...] From LongorShortCapital, the de-saintifying of Alan Greenspan continues, as well it should. Become Fed Chairman Lower interest rates until you create an asset bubble. Hold them low until stagflation is in the air and a real estate bubble is floating Stop being Fed Chairman and release a book on how you didn’t do anything wrong [...] |  | ||||
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