Our Ladies of Diminished Social Responsibility
The Groundhog's Day eve Visit of the Great Hog

This is the same Alan Greenspan whose voice to the financial community was once as that of God.

From the e-book 'Tom Irregardless and Me:'

A questioner might well suppose that the entire purpose of the meltdown was to chastise Alan Greenspan. As head of the Federal Reserve for 19 years prior to the 2007 economic collapse, did he not, per Ricky Ricardo, have a lot of ‘splainin to do? He attempted it before Congress:

"We are in the midst of a once-in-a-century credit tsunami. Central banks and governments are being required to take unprecedented measures. You, importantly, represent those on whose behalf economic policy is made, those who are feeling the brunt of the crisis in their workplaces and homes. I hope to address their concerns today."

This is the same Alan Greenspan whose voice to the financial community was once as that of God. As chairman of the Reserve, he’d issue statements regularly about interest rate policy. He’d make the statements incomprehensible; it was almost a game. He’d rehearse them in his head. If they could be Flying Woman Public Domainunderstood, he’d rework them. Finance people would strain to discern his real intent, but of course, the task was impossible by design. Far from becoming fed up with such obscuration, they took it all for brilliance! Whereas any street person would instantly recognize a con, the bankers hailed it all as wisdom from on high.

 

 

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