WC Varones

Don't lend your hand to raise no flag atop no ship of fools

Incompetence and arrogance -- such an unfortunate combination

Alan Greenspan, the idiot who couldn't see the housing bubble and thought only he and fellow Fedsters were qualified to even ponder it:
As top Federal Reserve officials debated whether there was a housing bubble and what to do about it, then-Chairman Alan Greenspan argued that the dissent should be kept secret so that the Fed wouldn't lose control of the debate to people less well-informed than themselves.

"We run the risk, by laying out the pros and cons of a particular argument, of inducing people to join in on the debate, and in this regard it is possible to lose control of a process that only we fully understand," Greenspan said, according to the transcripts of a March 2004 meeting.

And these buffoons still have control of the money supply for the entire U.S. economy!

End the Fed already! Haven't they done enough damage?

HT: DV

1 comments:

Pasadena Closet Conservative said...

And golly gee-whiz, now Ben Bernanke's in charge. Are we supposed to be grateful for that?!

Related Posts Plugin for WordPress, Blogger...

Contact Us

e-mail: wcvarones *at* yahoo *dot* com

Blog Archive