Alan Greenspan Bravely Rushes To JPMorgan Chase’s Defense, With A Bucket Of Nonsense
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It was only a matter of time before it happened: Alan Greenspan has come to the defense of JPMorgan Chase.
Yes, the Alan Greenspan, the same man who helped make it possible for banks like JPMorgan to get big enough to annihilate the financial system. The same man who made it easier for those banks to shoot craps with their spare cash while also holding federally insured deposits. The same man who kept derivatives from being troubled by regulation, in the name of market efficiency.
The very man, in other words, who is as responsible as any other human being alive or dead for the financial crisis that affects us all to this day. And he apparently wants to have another one, because he still sees absolutely nothing wrong with any of this, if a new interview with CNBC is any guide.
The truly remarkable thing about this story is that Greenspan, rather than being driven from society to live the rest of his days in the wilderness foraging for roots and berries, continues to find people to listen to what he has to say, despite his being utterly discredited.
Read More @ Huffington Post
