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

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  •  Brooksley Born Blames Greenspan (5+ / 0-)

    From Free Republic;

    Born, who pushed to strictly regulate derivatives under the Clinton Administration, but lost the battle to, among other people, Alan Greenspan, told the former Federal Reserve chair that his agency "failed to prevent housing bubble, failed to prevent the predatory lending scandal, failed to prevent the activities that would bring the financial system to the verge of collapse."

    "You failed to prevent many of our banks from consolidating and growing to a size that are now too big or too interconnected to fail," Born added. She added that Greenspan’s views on deregulation, which he took as an article of faith, contributed to the Federal Reserve’s failure in delivering on its mandate."  

    If you haven't seen the piece by Frontlineyou need to. Born forecast all of this, in 1998. And she was shutdown by Greenspan, Rubin, Summers and a later regretful Arthur Levitt.


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