Politics

Out of context: Reply #3699

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    Three officials, more than any others, have been responsible for preventing effective regulatory action over a period of years: Alan Greenspan, the oracular former Fed chairman; Phil Gramm, the heartless former chairman of the Senate banking committee; and Christopher Cox, the unapologetic chairman of the Securities and Exchange Commission. Blame Greenspan for making the case that the exploding trade in derivatives was a benign way of hedging against risk. Blame Gramm for making sure derivatives weren't covered by the Commodity Futures Modernization Act, a bill he shepherded through Congress in 2000. Blame Cox for championing Bush's policy of "voluntary" regulation of investment banks at the SEC.

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    • http://www.slate.com…
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    • The worst thing you can say about libertarians is that they are intellectually immature, frozen in the worldview many of them absorbed from reading Ayn Rand novels in high school. Like other ideologues, libertarians react to the world's failing to conform to their model by asking where the world went wrong.
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    • Like other ideologues, libertarians react to the world's failing to conform to their model by asking where the world went wrong.
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    • Pretty narrow assessment especially seeing as Libertarians generally subscribe to the Austrian school oftommyo
    • economics, which has been predicting exactly what we're going through now and has warned about the involvementtommyo
    • of the Fed's manipulation for decades and decades. Stop relying on steroetypes to form your opinions.tommyo
    • It's as stupid as a Republican saying that all Democrats want to do is give money to the poor. Shallow logic sir, shallow logic.tommyo
    • the faultless market was not free enough?
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    • and predicting something for 60 years tends to increase the odds of it happening.
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    • “the Austrian school have reached far into the future from when most of them practiced and have had a profound and, in my judgment, probably an irreversible effect on how most mainstream economists think in this country.”
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    • and, in my judgment, probably an irreversible effect on how most mainstream economists think in this country.”
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    • Alan "sink the fucking ship" Greenspan ( "I sucked Ayn rand's toe all the way to mexico")
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    • I consider myself more a Libertarian than Republican actually. You're blaming Libertarians?
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    • Capsize is a nutbag. Greenspans whole career was anti-Austrian school you loon.tommyo
    • Yeah, I'm a little confused about the Greenspan connection.
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    • ask him it's his quote.
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