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 | Portland OR – April 11, 2009 – Click for more info NATIONALIZE: Experts agree on the means — Insolvent banks that are too big to fail must incur a temporary FDIC intervention – no more blank check taxpayer handouts. (see Krugman on nationalization) REORGANIZE: Current CEOs and board members must be removed and bonuses wiped out. The financial elite must share in [...] There is so much lying, bullying and bad grace in Bush’s presser from yesterday that I can hardly repudiate him any better than to just let the moron whiner speak for himself. Bush is the drunk who drives his car through a pedestrian crosswalk, up onto a sidewalk and into a street fair, killing or maiming all in his path, and then sues [...] Because who better to back a presidential candidate who doesn’t understand economics than someone giving the reacharound to BushCo and the banks while fucking the U.S. economy into recession? [Alan] Greenspan, the U.S. Fed chairman from 1987 to 2006, endorsed the Republican presidential candidate John McCain in the interview. “I’m Republican and I support John McCain, who I know very well and who [...] From Alan Greenspan’s attemp at self-exculpation in the Financial Times this weekend, We will never have a perfect model of risk: The current financial crisis in the US is likely to be judged in retrospect as the most wrenching since the end of the second world war. It will end eventually when home prices stabilise and with them the value of equity in [...] He was instrumental in the biggest financial meltdown in history, pushing banking deregulation and “creative” loan products that unwound the U.S. economy, but evidently it was all worth it: Greenspan said on Thursday that subprime mortgages were risky, but they helped broaden home ownership. During a speech to a financial audience in Vancouver, Greenspan said subprime mortgages financed an increase in housing among [...] when his time comes, Alan Greenspan would fall directly from his lofty platonic perch down to the deepest circle of hell, where he would live in a flooded New Orleans shotgun with Ayn Rand and Milton Friedman, each given only a tablespoon to bail with while fetid water continued to seep through the walls, rank with the stench of forgotten corpses and slick with [...] |      | ||||
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