Greenspan backs bank nationalisation »
Posted By jovial 9 months, 1 week ago in Business & FinanceThe US government may have to nationalise some banks on a temporary basis to fix the financial system and restore the flow of credit, Alan Greenspan, the former Federal Reserve chairman, has told the Financial Times.
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jovial
Grew up In Brooklyn. Joined the Navy in 1976 stayed in 10 years. Aircraft Electronics tech. Worked for Major Govt. contractor then settled in California ...
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dgoodii9 months, 1 week ago
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There is no need to fix the credit it is already bloated and the FED is doing everything to destroy what value the dollar has left. Greenspan is a Keynesian on steroids with the sense of a pile of dung. They can't see past the short term or learn from the past. They just never spent enough to truly end recessions and control the economy. I wouldn't trust the FED with my enemies money, they are the cause and will continue these extreme cycles for evermore.
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DoseASpinoza9 months, 1 week ago
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Precisely. Do you think you would have heard Greenspan suggesting bank nationalization on his watch?
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We could make a movie: "Fog of War II: Greenspan." His denial is simply monumental.
He dithers like an old man waving away any suggestion that he could have seen this coming. He was largely responsible for keeping the interest rates artificially low so people would keep spending instead of noticing the country was blowing trillons of dollars and hundreds of thousands of lives to kingdom come in a needless war.
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