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Memo to Alan Greenspan: Keep Quiet

Al1997 Wrote: Aug 11, 2010 7:42 PM
Brad, take a breath. Granted GWB wasn't by any means a conservative - but he reaped the benefits of our Clinton in spades. 9-11 and the Clinton Exec mods to the CRA and the Banking Modernization Act coupled to the Financial Securities Modernization Act which gave rise to the derivities debacle throughout the world. Wake up and smell the roses, we cannot force the banks to loan money forever to folks who cannot afford pay the money back even if the fed is backing all of the loans. Remember we are the fed, the working people of this nation. We are approaching the point where the takers are outperforming those who fund the bureaucrats. By outperforming I mean they are soaking up our taxes faster than we can make the money to pay them. That...

I'm getting tired of Alan Greenspan. First, the former Federal Reserve chairman blamed an allegedly unregulated free market for the housing and financial debacle. Now he favors repealing the Bush-era tax cuts.

This has a certain sad irony. Recall that Greenspan once was an associate of Ayn Rand, the philosophical novelist who provided a moral defense of the free market, or as she put it, the separation of state and economy. Greenspan even contributed three essays to Rand's book "Capitalism: The Unknown Ideal" -- one for the gold standard, one against antitrust laws, and one against government consumer protection....

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