Les Blough
Axis of Logic
October 24, 2008
Wow! The arrogant, crusty old thief and Darling of Wall Street finally admitted that he, "made a mistake" by deregulating the financial system throughout his 18 years as head of the most powerful criminal syndicate in the history of the world - The Federal Reserve. Now, after he and his gang have finished their controlled demolition of the US economy and robbed the country, he stands before congress and glibly says he made a "mistake". Now that’s Hutzpa, folks! Poor Alan goes on to obfuscate,
“If we are right 60 percent of the time in forecasting, we’re doing exceptionally well. That means we are wrong 40 percent of the time. We at the Federal Reserve had a much better record forecasting than the private sector, but we were wrong quite a good deal of the time.”
First, the Federal Reserve is "the private sector", i.e. a private corporation. Second, "… a good deal of the time" amounts to the 18 years he served the Illuminati, manipulating, controlling and stealing the people’s money through the ruling elite’s own private corporation - a mafia - known as The Federal Reserve.
Greenspan said “You know, … I have been going for 40 years or more with very considerable evidence that it was working exceptionally well.” He lied that he was "very distressed" and in a state of "shocked disbelief" when he realized the banks inability to regulate themselves. Considerable evidence? There is also considerable evidence the entire crisis is the result of a "long term strategy", as F. William Engdahl put it, planned in order to collapse the system and thereafter achieve a greater concentration of wealth and power in the hands of the very few who continue to control the U.S. and other world economies.
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As Greenspan stood before Congress, Bill Sali, Republican from Idaho questioned Christopher Cox, the Chairman of the Securities and Exchange Commission. Sali asked Cox, "Is somebody going to go to jail?" (for these crimes). Cox "quickly backed off a hard line approach", according to the NYT and answered,
“There’s no question that somewhere in this terrible mess many laws were broken. You know, cleaning up the mess through law enforcement after the fact — while important, is not ideal.”
We have 2 rather obvious questions about that exchange:
1. Mr. Cox, "law enforcement" is your job. The Security and exchange commission, "holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation’s stock and options exchanges, and other electronic securities markets." The supposed purpose of this hearing is to investigate the crime and to "clean up the mess", as you call it, which was caused by deregulation! Your answer, Mr. Cox, clearly indicates that you are still not willing to enforce or regulate.
In his cynical response, admitting that "many laws were broken", Cox continues to abrogate his responsibility to "enforce and regulate" by stating that imprisonment of the criminals, "is not ideal". Can you hear a sitting Judge telling the prosecutor that prison "is not ideal" for a bank robber or murderer in a U.S. criminal court? It would certainly not be ideal for the thief or the killer!
2. The US government has always used law enforcement and punishment to fight and "clean up" other crimes ranging from smoking marijuana to armed robbery and murder. Have their crime-fighting tactics suddenly changed for those behind these high crimes? "Impunity" comes to mind.
Alan Greenspan should not be standing in front of the so-called "firing line" on Capitol Hill. He should be standing before a criminal tribunal to be tried and convicted of his crimes. He should then spend the rest of his sordid life in prison and not in a "country club" like the federal prison at Allenwood, with its horticulture training, outdoor courts for tennis, basketball, handball, bocce, and horseshoe pitching, running track and indoor gym. I’m sure the nation’s poor and many of those who have lost their homes and retirements due to his deregulation policies would agree. Instead of Allenwood, Alan Greenspan should serve the rest of his natural life in a real prison, alongside men who have committed far lesser crimes than he. In my 8 years working in U.S. prisons, I met a number of men behind bars who would like to get to know him.
Those lawmakers and law enforcers who supported this capitalist system of theft and corruption and who are now "grilling" Greenspan, should be housed in barred cells along the same catwalk. In the unlikely event of their imprisonment, our advice to all of them is, "Pick up the soap, bitch".
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