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View Diary: Britain's 21st Century Glass Steagall Act (31 comments)

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  •  Very Good Summary (1+ / 0-)
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    Into The Woods

    and great tag line, too!

    The "irony" in all of this is apparently we're all supposed to be dumb enough to believe Alan Greenspan's outrageous "I didn't see this coming" response to the crash.

    The deceptive/farcical nature of this makes it hard for me to believe Greenspan did not keep interest rates artificially low for years longer than practical/safe-- on purpose. he did it to fuel the bubble, because that is all that was driving our economy.

    it certainly wasn't "wealth trickling down" to the middle class.

    "I don't feel the change yet". Velma Hart

    by Superpole on Tue Sep 13, 2011 at 05:43:25 AM PDT

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    •  When really smart people do what appears to be (1+ / 0-)
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      really stupid things, it pays to consider whether they are really doing something other than what it appears or whether they are merely evil.  

      In this case, I believe it was both.

      And Greenspan has been part of it from the very start, preaching the gospel of an unfettered free market while aiding and abetting the creation and subsidization of a faux market benefitting primarily a narrow and powerful elite.

      Someone in a very expensive suit is at the front door and says he wants to foreclose on our democracy. Where should I tell him he can put his robosigning pen?

      by Into The Woods on Tue Sep 13, 2011 at 05:25:08 PM PDT

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