Greenspan : not my fault!

[temfarang]

Greenspan's Ayn Rand economic policy was not the reason for the ruining of the american dream.

 

"rich people are intelligent & honest" .. is the basis of both Rand's & greenspan's economic theory .. DOH.

problem is Rand was a pop author & greenspan was a uber-powerful regulator.

 

>> article <<

he was grilled by a subordinate whistle blower that he silenced!

" It included revelations that the Fed's own internal reviews had found insufficient policing of Citigroup, which taxpayers later rescued. A regulator whom Greenspan had silenced also grilled him mercilessly.

 

"The Fed utterly failed to prevent the financial crisis," Brooksley Born told Greenspan, after reeling off a litany of what she called failures by the central bank that helped bring about what Greenspan himself now labels the worst financial crisis ever.

 

Born was the chairman of the Commodity Futures Trading Commission in the late 1990s, and her unheeded warnings to Greenspan and other top Clinton administration officials came back to haunt the nation."

 

"On Wednesday she tried in vain to get Greenspan to acknowledge that deregulating the markets in 2000 allowed for an explosion of complex insurance-like products called credit-default swaps, which helped spark the collapse and rescue of insurer American International Group.

 

Greenspan said those products weren't an issue at the time of deregulation, but Born reminded him that they became one of the principal causes of the financial meltdown in September 2008"

http://www.mcclatchydc.com/2010/04/07/91785/ex-fed-chairman-greenspan-says.html

 

Greenspan's legacy is right there with W's as an idiot that may have (hopefully) caused the failure of the american 20th century dynasty!

 

the question is: Will the planet be better off without America as the dominate global power?

[Guest lazyphil]

yes. china have mobile execution/organ harvest trucks, they might go global, who knows. practical communism!

[temfarang]

yes. china have mobile execution/organ harvest trucks, they might go global, who knows. practical communism!

 

the old 'if i can't eat cake I must eat shit' argument.

 

the trail of "enemies to the death" left by american / brit 20th century policy might come back to haunt the pompously righteous.

 

1. name an area / source of 21st century terror that was not brutally dominated by us / brit / dutch / french (thieving racist) imperialist policy in the 20th century.

 

2. what non-contiguous region has china dominated / carpet bombed? (wal-mart decimated rural communities do not count.)

 

IMHO, to argue that american 20th century policies were good for the planet is an ostrich like reaction.

 

those non-racist, non biblical, non america #1ers amongst us might think obama's reaching out to the societies of OUR planet is good for the planet.

 

[color:red]greenspan might be a saint![/color]

[Old Hippie]

"...the question is: Will the planet be better off without America as the dominate global power?..."

 

 

Who would you prefer? And none of that "...I prefer no one, we should all be happy and content holding hands..." cop out crap.

 

For the record, I'd prefer the US didn't go around doing all it does, and instead spent the money here at home. Then the rest of the world/countries we waste money on would be on their own and it would be sink or swim. And maybe I'd have decent roads to drive on.

 

[Guest lazyphil]

i made a pledge not to get into any further debates on this. i get bogged down and confused!!

[Steve]

 

the question is: Will the planet be better off without America as the dominate global power?

 

It depends on the alternative. If the proposition is a world where we have nations all being equal and treated as such, lets throw that out of the window. I doubt very seriously there has been a world devoid of at least one if not two powers that were superior than the rest and acted accordingly. At least in the last couple millenia.

 

So, what is the alternative? The evidence points to China.

 

So, I would answer that question with a question. Would you prefer China over the U.S. as the world's premier super power?

 

Or is there another country that will emerge instead of China? If so, name it and state why it will be better.

 

Not trying to be antogonistic and not getting involved in nationalism and bias as an American but really, what's the alternative?

 

I'm not happy with how the country does things but I hear that posed and almost always nothing said about the alternative. If it is, its a scenario that will not happen (world peace).

 

 

[Steve]

With regards to Greenspan, I recall he had deity status. Congress would be on its knees sucking his dick when he appeared before them. He was NEVER criticized or questioned with nothing short of fawning. Public criticism of Greenspan was political suicide.

 

There was 'Greenspan speak'. Cryptic words and phrases that wall street firms tried to decipher its meaining as if it was a plot in some Indiana Jones movie.

 

To be fair, we were all fooled. We bought the hype. Only 'conspiracy nuts' warned about him and the Fed.

 

Its been said the second most powerful man in the world is the head of the Federal Reserve. I would contend he's the first if the old adage 'he who has the gold, makes the rules (or calls the tune)' has any credence.

 

It doesn't matter what the President does, the Fed chairman can scupper any economic plan with the powers he has.

 

Its also interesting to note that the Fed is a private organization that is said to be controlled by a cabal of bankers. We know what it isn't and its NOT a government agency. It IS a private organization.

 

Congressman Ron Paul has tried unsuccessfully to even get a proper accounting of the organization.

 

If Greenspan is going to get the credit for the 90s boom then he MUST take the blame for the '00s bust. Can't have it both ways.

 

If I was fair, I'd say the blame ultimately lies in the nation. We have not changed any thing of significance with the regards to the powers of the Fed. To show you how arrogant they are, when the crisis hit the Fed wanted the government to sign a document that said they can do anything with regards to resolving the crisis WITHOUT any fear of criminal prosecution. They wanted to be ABOVE THE LAW before acting!! In my opinion, just presenting such a document would be more than sufficient evidence to fire the head, do a complete audit and make rules and regulations curtailing their infinite power.

 

 

[Mekong]

the question is: Will the planet be better off without America as the dominate global power?

 

 

I suspect we may know the answer to that question well within my lifetime.

[Flashermac]

We might have had Japan as number one, if Roosevelt hadn't poked his nose into Chinese affairs in 1941.

 

 

[Old Hippie]

Lets see, we have China, Saudi Arabia, N. Korea...who else would be a better alternative to the god awful Americans? I mean think about it what did WE ever do for the world that was any good? I mean Denmark did a fine job protecting Europe from the Russian threat...who for ages may have well kept the chinamen in line? Indonesia? Norway?

 

What the USA became by and large is a direct result of European failures to handle their affairs, we are the "Frankenstein" the world created. Europe as a whole failed to keep those brautwurst farting nazi fucks in line. UK couldn't do it alone, and who was going to help them? France? Sweden? Hell fucking no! So we "meddled" and helped get the job done. Otherwise, Europe would have been under Nazi control. Had we NOT stayed post war, Europe would most likely be under the Commie Russian control. Or maybe the german war machine would have cranked up yet again for a 3rd try. Not to mention all the post war rebuilding that was done at the expense of meddling USA taxpayers. You're welcome.

 

Goldwater was right keep all our resources at home and fuck the ungrateful bastards and leave them on their own. The world would have been so much better off...