Tuesday, September 27, 2011

Quoted: Alan Greenspan on Moral Hazard

The WSJ Quoting none other than the architect of The Great Greenspan Depression of the Millenium:

“There were unintended consequences to almost every action I was involved in” as Fed chairman, said Mr. Greenspan, who himself cut interest rates to help stave off a bond-market crisis in 1998, and later was accused of helping inflate the stock bubble of the late 1990s. “If we anticipated the unintended consequences that were going to happen we might have changed the policy,” he said, but he added that it is impossible to forecast all the consequences of government action.

WSJ August 29th, 2011

Overlooking the massive and epic destruction of jobs and the anihilation of 30 Trillion Dollars of our nation's hard-earned savings and Asset values, Some of his "unintended consequences" included:

Nine Wall Street Execs Who Cashed In on the Crisis

How Banks Got Too Big to Fail

No enemy of our country has caused more damage. Ever.


1 comment:

  1. Hello! This is my first comment here so I just wanted to give a quick shout out and say I really enjoy reading your posts. Thanks



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