Former Federal Reserve Chairman Alan Greenspan, who has issued near mea culpas in the past few months about his role in the financial crisis, still believes that it was essentially an unpredictable, rogue event.
"I look back at our monetary policies as I see it could have gone wrong, it didn't. The problem, as best I can judge on the fairly detailed analysis of the evidence, is that the roots of that crisis are very broad and geopolitical going back to the end of the Cold War and the massive changes in flows of finances that brought long-term, real interest rates down. And the consequences of that created a major expansion in capitalized values for real estate, especially residential real estate, across the globe. Certain aspects of monetary policy probably had some effect."
How 'bout we call a spade a spade.
Fraud, back-door deals with congress for laws that made this possible, fraud, outright lying on the books of every bank in the country, encouraged by everyone, fraud! Oh, in case you missed it, Fraud! Crazy sombitches getting in waaaaaaaaaaaaaaaaaaaaay over their collective heads and lying about income comenserate with obligations. Fraud. Residential and commercial real estate over valued for years by banks. Fraud!!!
Hey, did I mention Fraud?
So what is this double speak bullshit oozing out of Greenspans yap? our monetary policies [as] I see it could have gone wrong? Are you freakin' kiddin' me? Reeeeheeeheeeeheeeeheeeely. . . . . You know what my response is? How 'bout DUH!
What you did to the economy is akin to loading the dice in Vegas. The odds are already biased to the house and you just gave the keys for the vault to the banksters. Thanks Al.
If I am wrong, mea culpa, mea culpa.
Story here.
No comments:
Post a Comment
waddaya think?