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View Diary: Alan Grayson Rips the 'Liar' Alan Greenspan a New One (233 comments)

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  •  Crisis largely behind us Alan? (22+ / 0-)

    Not so fast.

    From one of the really bright finance guys, Mohamed El-Erian:

    Buoyed by a cyclical recovery, markets around the world have yet to recognise the complexity of this situation. When they do, it will also become apparent that Greece is part of a wider, and historically unfamiliar phenomenon – that of a simultaneous and large disruption to the balance sheet of many industrial countries. Tighten your seat belts.

    On Greece, but that crisis will impact the USA.  

    http://www.ft.com/...

    ...someday - the armies of bitterness will all be going the same way. And they'll all walk together, and there'll be a dead terror from it. The Grapes of Wrath

    by deepsouthdoug on Thu Apr 08, 2010 at 10:54:18 AM PDT

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    •  I agree deepsouthdoug nt (6+ / 0-)

      LeBron James is worth way more than any Wall Street Banker.

      by J Brunner Fan on Thu Apr 08, 2010 at 10:59:08 AM PDT

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    •  Much more than that. (9+ / 0-)

      Commercial mortgages are up next.

      http://cop.senate.gov/...

      Don't do vibrato. There'll be plenty of that naturally later when you're old and shaky. (Miles Davis, quoting his music instructor)

      by dov12348 on Thu Apr 08, 2010 at 11:24:52 AM PDT

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    •  Goldman Sachs 'taught' the Greeks 'how to cook (13+ / 0-)

      the books' and this is exactly why the Justice Department and the cowardly AG Eric Holder let Joseph Cassano off the hook...after a 2 year investigation.  Cassano, known as The Man Who Crashed the Earth, the CEO of AIG, got away with a cool $300 million, and the SEC along with Holder let him go without as much as a slap on the wrist...the reason?

      If Cassano goes down, then 'they all go down' like Goldman Sachs, JP Morgan and even that asshat Robert Rubin (who got $250 million) because the fact is that all of them were doing the exact same things:  COOKING THE BOOKS AND HIDING TOXIC DEBT...while the Regulators, most of all Greenspan and Bernanke and the OCC looked the other way.

      ...oh, not to worry, I'm wearing a Flame Retardant Valentino Orange Moo Moo whenever I visit DailyKos.

      by Badabing on Thu Apr 08, 2010 at 11:42:53 AM PDT

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      •  Why do you keep saying this... (0+ / 0-)

        "Goldman Sachs 'taught' the Greeks 'how to cook
        the books'"

        ...when it's not true at all?

        And I've seen you post it many times, and people corrected you many times.

        It's just a ridiculous statement.

        There are two kinds of people in this world. The kind who divide the world into two kinds of people, and the kind who don't.

        by upstate NY on Fri Apr 09, 2010 at 07:52:02 AM PDT

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    •  The thing that bugs me about (0+ / 0-)

      El-Erian is the constant framing of the story as profligate citizens of profligate countries. Greece's $12k a year bureaucrats were not out partying. They were on a form of workfare. Greece is a poor country. This wasn't a party. Meanwhile, the countries with similar problems get labeled PIIGS, as though they're really all fat. Meanwhile, we have million dollar a year salaried bankers running their companies into the ground and begging gov'ts to save them, but where is the acronym for that?

      Given all the banks that got themselves in trouble, you'd think an acronym would be pretty easy.

      There are two kinds of people in this world. The kind who divide the world into two kinds of people, and the kind who don't.

      by upstate NY on Fri Apr 09, 2010 at 08:13:26 AM PDT

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