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Greenspan's confession
Monday, February 16, 2009
A sense of duty requires that this video be posted here - Nobel Laureate Daniel Kahneman on Alan Greenspan at the recently concluded Davos Economic Forum (via The Daily Bail).
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5 comments:
It's baby boomers pure and simple. The "me" generation. They are the ones who are focused on their own short term gain, the company and even the future of the country don't matter to them.
I saw a re-run of CNBC's TV special, House of Cards, last night:
http://www.cnbc.com/id/28892719
It's well worth watching if you have the time but most readers here will find it just confirms EVERYTHING they knew/suspected about the housing mess. But, still, it's fun to watch the whole mess compressed into an hour or so.
Greenspan is interviewed and offers up his stunningly lame list of excuses as to why he screwed up so badly.
More and more, I see people ripping on Greenspan. His name almost never appears in a positive light anymore. And, that is WELL DESERVED and HIGH TIME!
That is why this blog is so perfectly titled. If copyright allowed, the picture of Greenspan getting the medal should be the icon for this blog.
More than anything, that image demonstrates how badly our country's affiars have been handled by our so-called leaders.
In the end, we must blame ourselves. In a democracy, we get what we vote for. As long as we selfishly fall for the pandering promises of the profligate pilfering pirate puffed-up, yet pathetic and pitiful politicians, we will suffer.
Ron Paul is about the only consistent voice of reason in Washington. I don't agree with him on every point, I don't know him personally and I have never met him.
I have no idea if he is truly an honest politician. But, his words have the ring of truth and are the only words of wisdom I've heard from a politician in a VERY long time.
There seems to be an epidemic of narcissism in America that is ruining our country. It extends all the way from the top to the very bottom of our society and it needs to stop now. If we continue, I fear for the very existence of our country.
It may be that Ron Paul is your Churchill - but your system doesn't allow you to replace Barak O'Chamberlain by him.
uh, it took a Nobel Award winning economist to elucidate what was blinding obvious to even the worst drunk on a streetcorner ? is this really news to the people at Davos ? if so, we are well and truly screwed.
Greenspan at least had the courage to admit publicly that his intellectual framework on the behavior of financial private enterprise was wrong. He took a major piece of the responsibility.
But right or wrong, it was the bankers, American big bankers and real estate tycoons, who took the actions to break the bank. They are the ones who see their jobs are to solely enrich themselves.
The intoxicated American public went along with this selfish ideology. Together they broke their country. They get what they deserve.
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