House of Cards: Greed is Bad

Alan Greenspan is so wrong. He didn't try to regulate. Everybody was genuflecting at his every word, but he claims Congress would have had trouble were he to have sent in examiners, etc. He also claims we can't overcome greed via knowledge. He says it's human nature. It is not human nature. It is a learned behavior. Greed is learned. It is learned ignorance.

The issues were debated, and Alan Greenspan was on the darkside at the time (and still is) that crashed the system on the backs of the unsuspecting. However, Alan doesn't go without food or a roof over his head as a result. Why should those unsuspecting ones?

As the woman said, she was stupid, but the lenders were guilty. Of course it was evil to commingle toxic loans with AAA loans and to sell those as quickly as possible as AAA to those who trusted the rating agencies that could not possibly have not known about the toxics had those rating agencies been doing the work they claimed they were doing at the time.

It was a gigantic fraud: a Ponzi scheme. The taxpayers definitely should not have bailed out a single investment bank or commercial bank that was engaged in the fraud. All of those institutions should have, and could have, been taken over 100% by the government to own, restructure, and operate as a public utility for the American people. They still should be. All of the speculative aspects should not be in the same institutions. They should never have been allowed back in. The New Deal should never have been gutted. It was evil to do it — very evil.

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  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
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