Tuesday, January 15, 2008

Alan Greenspan - Evil Genius

This is mind blowing. Having orchestrated the biggest credit bubble and subsequent credit bust in the history of man kind, Alan Greenspan is on a roll. First he wrote a book basically summarized as "wasn't my fault suckers, now out of my way I gots 'mo money to make".

Now Mr. Andrea Mitchell of NBC News (not that I am implying that means he gets favorable coverage in the press or anything) is joining a hedge fund. No biggie. Except this is no regular hedger fund. As Fortune says

The move, which comes on the same day that Merrill Lynch (MER) and Citi (C) raise some $21 billion in new capital to offset losses tied to the collapse of the housing bubble, puts Greenspan on the advisory board of the firm that has been among the biggest winners in betting against subprime mortgage-related securities.

Alan I gotta say you are one brilliant son of a bitch. You encourage reckless borrowing. You ruin thousands of lives. You destroy the US dollar. You take the economy to the brink of economic collapse. And yet you get rewarded as a highly paid advisor to a fund that profits from your destructive forces. Kudos to you man.

Martha Stewart went to jail for making $200K on some inside information. Alan Greenspan not only gets no jail time, he gets to profit even more from his disastrous policies. I'd expect this kind of thing to happen in S. American, African or E. European countries. Not in America.

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