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« Vladimir Putin On Wikileaks - Larry King Live | Main | Yardeni: "The Bond Vigilantes Finally Woke Up" »
Thursday
Dec162010

FLIP-FLOP Fed Chairman - Greenspan The Bank Fraud Denier! - FLASHBACK To Battles With Brooksley Born - PBS Frontline Video

Video:  PBS Frontline - The Warning

How quickly Greenspan sings a different tune.  A 1996 conversation is reported between Brooksley Born and then Fed Chairman Greenspan:

  • Greenspan: “Well, Brooksley, I guess you and I will never agree about fraud,”
  • Born: “What is there not to agree on?”
  • Greenspan: “Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud.  I think that the market will figure it out."

---

 

Stop!  Watch this.  From the FED celebration at Jekyll Island over the weekend.  Bernanke looks uncomfortable as Greenspan admits the truth.  Runs 50 seconds.

Greenspan, Bernanke and former NY Fed president, Gerald Corrigan - Nov. 6

 

Background story:

 

 

 

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Reader Comments (7)

Rand Paul already disappointing libertarians

The senator-elect comes around on wasteful earmarks

http://www.salon.com/news/politics/war_room/2010/11/08/rand_paul_earmarks
Nov 9, 2010 at 5:47 PM | Registered CommenterDailyBail
Yeah, this doesn't surprise me even a little. Kentucky is a libertarian state, as long as the welfare checks get there on time.
Nov 9, 2010 at 6:06 PM | Unregistered Commentermark mchugh
Greenspan's dangerous now that he's senile.
Nov 9, 2010 at 6:07 PM | Unregistered Commentermark mchugh
That Salon story is brain-dead. There's nothing libertarian or un-libertarian about earmarks. Ron Paul is actually for them. (Then he votes against the bill itself if it's unconstitutional.) Being against "earmarks" is just a way to sound fiscally tough without cutting anything. I'd bet a dollar to the hole in a donut that John Boehner is against earmarks. We'll see what happens with Rand Paul's principles, but I don't think he's there to play games.
Nov 9, 2010 at 6:35 PM | Registered CommenterDr. Pitchfork
We figured your azz out Greenie....CHIEF FRAUDSTER.........GO AWAY....U Caused Enough IRREPARABLE HARM......AB
Nov 10, 2010 at 5:31 PM | Unregistered CommenterAint Bullshittin'
Admitted Banker Fraud

State of the US Economy, Jun 3, 2009 - House Committee Budget
Ben S. Bernanke: 'The Federal Reserve will not monetize the debt and I think it’s important to point out that notwithstanding our purchases of treasuries as part of a program to strengthen private credit markets even when we complete the 300 billion dollar purchase that we have committed to, we will still hold less treasuries, a smaller volume of treasuries than we had before the crisis began...FEAR THAT the debt will continue to rise will make it very difficult to finance it. And at some point you will hit a point were you have to have both very draconian cuts and very large tax increases'

http://sovereignthink.wordpress.com/2010/11/08/read-my-lips-the-federal-reserve-will-not-monetize-the-debt/

On November 3, 2010, the Fed announced the printing of $600-900 billion in new debt based, privately held currency to directly purchase US Treasury bond debt.

On Nov 5-6 2010 Alan Greenspan: 'Things were being done which were certainly illegal and clearly criminal in certain cases. In which, I mean Fraud, Fraud is a Fact, Fraud Creates very considerable instability in competitive markets.

If you cannot trust your counter parties it won’t work and indeed we saw that it didn’t.’

http://sovereignthink.wordpress.com/2010/11/11/jekyll-island/

-sovereignthink
Nov 11, 2010 at 6:33 PM | Unregistered Commentersovereignthink
I Won't Invest Another Penny Until the Criminals Who Caused the Financial Crisis Are Safely in Jail

http://www.washingtonsblog.com/2010/12/i-wont-invest-another-penny-until.html
Dec 16, 2010 at 5:27 PM | Registered CommenterDailyBail

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