Posts tagged ‘Alan Greenspan’

January 28, 2012

Former Fed Chair Missing

Former Chairman of the Federal Reserve Alan Gr...

Image via Wikipedia

All you really have to do to win the Presidential Medal of Freedom is be wrong about the housing bubble, deregulation and the “free market.”  Congratulations, Alan.  You hit the trifecta. 

UPW Senior Reporter Marcy Popindick is reporting that Alan Greenspan has disappeared after publishing an op-ed in the Financial Times.


 Attempts to reach Greenspan have been futile.

Hello, Alan. Alan, are you there? Come in Alan.”

Houston, we have a problem. Alan Greenspan is lost in space.

        Say “cheese” Alan.  Read the Article at HuffingtonPost

Update. According to this developing story, Greenspan is not lost in space. He’s just lost it. The former Federal Reserve Chairman said capitalism is not responsible for income inequality.

A spokesman for the former Fed Chair, speaking under conditions of deep background, stated Greenspan believes that feudalism and the Knights of the Round Table had more to do with inequality, deregulation and the housing bubble than modern capitalism.

400-cheney-05

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Alan Greenspan reading Ayn Rand comics to former Vice President Dick Cheney.  

Other news organizations are reporting that Greenspan has gone into hiding after making such inane comments in his Financial Times op-ed.

Anybody who still gives one shit about anything this man has to say please raise your hand. Nobody. That’s what I thought.

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November 6, 2011

Ex-Pres. Pens New Tome

I voted for Bill Clinton twice, the second time somewhat reluctantly because of his support for NAFTA. And while he may be a likeable fellow, his actions as president did great harm to the country.

Official White House photo of President Bill C...

Always liked the guy. And no one can say he wasn't faithful to his wife and many mistresses. Image via Wikipedia

He’s published another book, his third. I haven’t read it yet but reviews indicate that his latest effort focuses on the country’s economic problems.

Whatever his solutions may be, Bill Clinton can’t ignore his own contributions to the mess the economy is in today.

He appointed two of the worst secretaries of the Treasury in the country’s history – Robert Rubin and Larry Summers – both of whom were compulsive deregulationists.

He signed off on two of the worst pieces of legislation ever to befall the country: The Financial Services Modernization Act (also known by the names of its Republican sponsors, the notorious Phil Gramm and fellow Republican extremists in the House Jim Leach and Tom Bliley). And he signed into law the now infamous Commodity Futures Modernization Act. Taken together, these two laws led directly to the massive abuses by the financial industry and were a leading cause of the meltdown.

In addition, he foolishly reappointed Alan Greenspan, a Republican, to the Fed Chair at a time when a Democrat might have brought a more disciplined approach to Fed policy.

He, and his DLC companions, convulsed the Democratic party, turning it away from the common men and women who have supported it for decades and transforming into the corporate toady that it is today.

And last but not least there is the NAFTA disaster, a pact which he should have vetoed. Barring that action, he could have insisted on revisions to make the agreement more favorably disposed to the needs of working people.

For these blunders, Clinton must answer to history.

***

The Nobella Prize Committee has just announced the nominees for its newest award: The Shit Eatingest Grin of the Decade.

And the nominees are 1) Phil Gramm; 2) Alan Greenspan; 3) Robert Rubin; 4) Lawrence Summers; 5) And some Chinese guy.

For the first time in its history the Nobella Committee is permitting public voting. You can cast your vote below.

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Rubin-greenspan-rongji

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White House portrait of Lawrence Summers.

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http://bioguide.congress.gov/bioguide/photo/G/...

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October 26, 2011

Are You Rich Yet?

Ronald Reagan brought you supply side economics.  Are you rich yet?

Bill Clinton reformed welfare.  Are you rich yet?

George Bush gave you two tax cuts.  Are you rich yet?

Alan Greenspan lowered the prime interest rate to near zero.  Are you rich yet?

Former Chairman of the Federal Reserve Alan Gr...

After committing one of the most monumental screwups in world history, the Maestro is awarded a thingy by George Bush who hasn't yet received his thingy for all of his screwups. Image via Wikipedia*

Barack Obama extended the Bush tax cuts.  Are you rich yet?

Ben Bernanke purchased trillions of dollars of worthless CDOs from Wall Street banks.  Are you rich yet?

Official portrait of Federal Reserve Chairman ...

Nice beard. Oh, yeah right. He's that Fed Chairman guy.

Obama gave you a payroll tax cut.  Are you rich yet?

Obama saved Wall Street for the sake of Main Street.  Are you rich yet?

All of the above actions enriched the richest 1% and saved them trillions of dollars in bank assets.  Are you rich yet?

Wall Street outlaws pay millions of dollars in protection money to the mobsters in DC we euphemistically refer to as Congress. And there’s a lot more scratch where that came from so long as the mobsters continue to play ball. There’s no indication the crooked game will ever end.

Alan Greenspan – Ayn Rand cultist, compulsive deregulationist and everybody’s favorite candidate for the mangled English prize –  committed a spectacularly monumental blunder by failing to recognize a housing bubble almost as big as his nose, until the damn thing burst in his face.  President Bush is seen awarding Alan the Baronial Medal of Stupidity, I mean the Presidential Medal of Freedom.  You actually get an award for being one of the central characters that caused the collapse of the global economy.*

*(Alan Greenspan was also honored with the Schmuckup Prize in Economics awarded by the Nobella Prize Committee in September 2009.

The Committee, whose hideout is located in Pasta Fagioli, a village nestled deep in the Italian Alps, grants awards from time to time to deserving individuals in the arts, sciences and government or just about anything else whenever it feels like it.

The Schmuckup Prize consists of a statuette known as the Little Schmuckie and is made of rusted metal stolen from an auto junk yard.  The Little Schmuckie is given to winners of the award while supplies last.  Unfortunately for Alan supplies ran out the day he was awarded the prize.

Alan has also been nominated for Shit Eatingest Grin of the Decade.  We stand breathless awaiting the committees decision on the winner).

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