ALAN Greenspan . . . he's the man!

Photo Credit: MSNBC

By l.t. Dravis

WASHINGTON, D.C. MSNBC NEWS – Thursday, October 23, 2008 – Former Federal Reserve Chairman Alan Greenspan did what George W. Bush, Dick Cheney, Donald Rumsfeld, Alberto Gonzalez, John Snow, Chris Cox, Josh Bolton, Mitch McConnell, John Boehner, and too many others to mention here haven’t got the guts to do: Admit a mistake!

As Dr. Phil (I still don’t get how fatman Phil could write a diet book with any credibility) says, ‘You can’t change what you won’t acknowledge”.

Greenspan admitted in front of the House Oversight Committee chaired by Congressman Henry Waxman (one of the toughest and best Representatives in America) and the entire world that he was wrong when he made decisions based on his belief that banks ‘operating in their self-interest’ would protect their shareholders, their equity, and, therefore, the backbone of the economy.

Hooya!

So, what do the losers . . . Bush, Cheney, Rumsfeld, Gonzalez, Snow, Cox, Bolton, McConnell, Boehner and others . . . who ‘led’ us down this disastrous path have in common?

One thing and one thing only: They’re gutless!

They don’t have guts enough to admit their mistakes and correct those mistakes in order to do what the taxpayers pay them to do: Protect the interests of the people . . . not their buddies, not the special interests, not the lobbyists!

Now, do I agree with everything Greenspan said today?

No.

Not that I’m an economist because I’m not.

I couldn’t even hope to stand in Alan Greenspan’s intellectual shadow.

But I am a people-onomist and I disagreed with Alan Greenspan when he said, “All those extraordinarily capable people were unable to foresee the development of this critical problem, uh, which, undoubtedly, was the cause of the world problem with respect to mortgage-backed securities. I have to think, I we have to ask ourselves, why is that? And, the answer is, that at, uh, we’re not smart enough.”

The reason, in my never to be humble opinion, is not that ‘we’re not smart enough’ but that we’re not honest enough . . . in other words, greed rules. Unrestrained greed, not lack of wisdom, motivated financial manipulators to create the current economic crisis we have to pay for.

Anyone surprised by that assertion?

If so, I don’t know why.

Every religion and every philosophy ever embraced by humanity teaches the simple, unchallenged fact that when human beings have access to riches without oversight or restraint; they will grab all they can for themselves without regard for anyone – or anything – else.

Ain’t that the truth!

Disagreements aside, I say thank you, Alan Greenspan, for your service.

Thank you for your wisdom.

But, most of all, thank you for your guts.

If only others in positions of power could take a cue from you.

You are, after all, the man!

P.S. Didn’t see one of my favorites on MSNBC today . . . Andrea Mitchell, where are you? Hope the suits didn’t take you off because Alan was under the lights on Capitol Hill. I’ll see you tomorrow . . . I hope.

Copyright © 2008 by LTD Associates West, Ltd. All rights reserved.

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