Nuggets of Wisdom

Wednesday, October 23, 2013

Why Is Alan Greenspan Not In Jail?!?!

Gawker summarizes Greenspan's fail of a career in his own words:
Alan Greenspan, 2004: "American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage."
 
Alan Greenspan, 2005: "Although a 'bubble' in home prices for the nation as a whole does not appear likely, there do appear to be, at a minimum, signs of froth in some local markets."
 
Alan Greenspan, 2005: "The resolution of our current account deficit and household debt burdens does not strike me as overly worrisome."
 
[Housing bubble pops and everything goes to hell]
 
Alan Greenspan, 2008: "“I still do not fully understand why it happened.”
 
[Pause]
 
Alan Greenspan, 2013: “In a sense, we are actually at relatively low stock prices... [the market has] gone up a huge amount, but it’s not bubbly."
He, Ben Bernanke, and Barney Frank deserve to rot in jail for pushing the monetary and fiscal policies that crashed our economy. So why are they walking like free men?

There is no justice in this country!