Greenspan Admits Philisophical Error in "The Warning"

At the heart of the financial turmoil that has blown up the world economy stands accolytes of Ayn Rand like Alan Greenspan, Robert Rubin, Larry Summers, and other major players at The Fed and the US Treasury Dept over the past five administrations. In The PBSD Frontline Special "The Warning" the history of the crisis is exposed and the major players called out.
http://www.pbs.org/wgbh/pages/frontline/warning/view/
"We didn't truly know the dangers of the market, because it was a dark market," says Brooksley Born, the head of an obscure federal regulatory agency -- the Commodity Futures Trading Commission [CFTC] -- who not only warned of the potential for economic meltdown in the late 1990s, but also tried to convince the country's key economic powerbrokers to take actions that could have helped avert the crisis. "They were totally opposed to it," Born says. "That puzzled me. What was it that was in this market that had to be hidden?"

Category:

News & Politics

Tags:

• pbs
• frontline
• the warning
• brooksley born
• robert rubin
• alan greenspan
• arthur levitt
• larry summers

[VirtuosicElevator]

greenspan did not follow what Rand said. she would puke if she saw what he has done. He is the complete opposite. The fed IS GOVERNMENT CONTROL. don't get mad at the deregulators because he is most definitely not one...

[SimpleManY2X]

jewish whore and jewish bastard ruined the world

[imspartacus81612]

@hotwelder2010 what a joke. Fannie and Freddie were the most "regulated" companies in history. How'd they fare? And what is their level of culpability in this meltdown?

[hotwelder2010]

Greenspan and his band of deregulating demons are the biggest culprits in this meltdown

[CmshnrBlu]

@JayGatsbyOdysseus I am entirely unconvinced in your argument that ayn rand was not a libertarian. She completely advocates the libertarian viewpoint, and constructs archetypes around this paradigm

[JayGatsbyOdysseus]

.......Revolution where the Boshevicks took all the Russians property, including Ayn Rands. Karl Marx was Jewish. However, so was Ayn Rand. So, you see on each extreme of political thought, far right conservative Ayn Rand or far left liberal Karl Marx, you have a Jewish writer. This cancels out and uniform, cohesive Jewish take over of property. Such thinking is Hitleresque. What is important to understand is the two thoughts, capitalism and socialism. The must be a sythesis in these

[JayGatsbyOdysseus]

Oh, and Ayn Rand was not a libertarian. She was an ultra conservative. Her families wealth was taken by the Bolshvicks in Saint Petersburg, Russia duing the 1919 revolution. She somehow made her way to the USA and spent the rest of her life advocating a "pure" economy, which is impossible. As for the radical comment below about Jews taking the property of Russia then to take the property of Europe and the USA, this is a reference to Karl Marx whose thinking was instrumental in the Boshevick

[JayGatsbyOdysseus]

Allen Greenspan wanted two mutually exclusive entities, the economy and the govenment. This is just not possible. It is also not possible to have the economy and the govenment to be one. The Soviets finally figured this out in 1989. There must be a mixture, a Venn diagram. See Scandanavia. These countries have figured it out. In the full documentary, Greenspan goes as far to say that he does not worry about fraud.

[GnomesAmok]

@10revver01

False. The top 1% do not control the money supply, they control the marketplace. "Competing currencies" is the most hilariously stupid thing Ive ever heard of it. The largest corporation is called the Federal Reserve.. totally false. The Federal Reserve made up of multiple companies. I thought you people hated nationalization, yet you complain about the fact that the central banks are run by corporations? Your revolution is a joke. Its not even a revolution, its a devolution.

[10revver01]

@GnomesAmok Exactly. The largest corporation in this country is a monopoly called the Federal Reserve, Inc. The primary reason that wealth has consolidated to the top 1% is that the top 1% control the money supply. This group is private and in no way transparent to the taxpayer who is liable for its payments. The proper way to disperse wealth equitably in a free and democratic society is to create a democratic banking structure. Competing currencies is that start of this revolution!