Letters to the Editor
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Liar Liar economy on fire
Alan Greenspan is a liar, plain and simple. He knew exactly where the cheap money policy of the Fed would lead. As the ever brilliant Krugman wrote a while back, Greenspan had actually written years before describing exactly the kind of housing bubble cheap money would create.
The housing bubble was created by unusually low rates combined with almost no regulation. This was needed to create a false boom to pay for the Wars and the tax cuts. It was known it would cause a crash. However the culprits believed they would be out of town and living high on the hog by the time that happened. Greenspan heads the list of culprits. Add to that the shell game he played with Social Security and tax cuts and there is no question that he is the greatest white collar criminal ever. But these days the big crimes, war crimes, torture, looting the treasury, corruption, human rights abuses, election theft all go unpunished. Jail is just for the little people.