Former Federal Reserve Chairman Alan Greenspan and the government of President George W. Bush were to blame for the U.S. financial crisis, Nobel laureate economist Joseph Stiglitz said in a magazine interview.

Earlier in April, Greenspan said in an interview with CNBC television that the U.S. economy was in recession and defended his chairmanship of the U.S. central bank against charges that his policy missteps had laid the groundwork for the crisis.

He said decisions during his charge had been rationally constructed based on evidence at the time.

Stiglitz said Bush's government was also to blame.
Greenspan, Bush to blame for U.S. crisis

__________________
Join the forums, Read the News!
http://waronyou.com


http://RONPAULFORUM.INFO">RON PAUL FORUMS</a>

This is a good article except for one fact, there is no economic crisis and there is no recession.

__________________
Drill offshore now

wow, you're SO SO SO STUPID! All the major economies in the world are suffering. The realestate loan scandal to the food shortage! Its all because of bio-diesel.

Dumbya posts on AWE.


The end is near.

Pointing fingers has always been the Democratic way. That's why they keep losing elections.
But what exactly are they being blamed for? Who did they wrong? Those who didn't make money? Not to criticize all the mass media brainwashing of the clueless, but entrepreneurship in this country is at an all time high. That spells innovation. Through innovation, advancements are made. I'm not ready to jump off a cliff yet because of some sensationalist news report that is mostly opinion and very little fact.
There are many policies I believe the Bush Administration has failed at. But I hesitate to lay the blame for all of our financial problems at his feet. If you look at where these current problems began, they begin in the Reagan Administration and his policy of globalization. Globalization had to happen to save us from the International Banking Crisis of the 80's. In the process, banking rules were relaxed and banks were allowed to cross state lines for the first time since the 30's. That lead to a period of lending competition, and inevitably, the Sub-prime Lending Crisis. Which is threatening to do the same thing the International Bank Crisis did. You can't put all the blame at Bush's and Greenspan's feet. If you want to blame someone, blame all those who refused to pay their debts.

>>>Tell that to the 40,000 truckers who have parked their trucks since the beginning of the year. And tell it to the retailers who have no need for the goods those trucks would have delivered. That a lot of dead trucks, dude.

>>>It HAS to be. All those laid off manufacturers have opened up day care centers.

MEMO:
From: 1600 Penn Ave
To: GOP, DNC, CNN, Fox News, et al....

Another win for trickle down economics, this may work as long as those that get the tax break money hire more workers, open new business, and don't spend it on a new Gulfstream V, or another winter house in Costa Rica.

Of course its true that a government can spend trillions of dollars it does not have on a war, and then spend billions more rebuilding the nation it destroyed. Only the stupid middle class that have to live on a budget would think that these war cost could effect the national economy.

Only fools think that there is a limited amount of money for a government to spend in any one year: government economics is so complicated only wealthy politicians can understand it. We are the politicians, and we know that we can keep on spending and absorbing public wealth; we can just keep on telling the people the economy is strong and they won't know any better. (If that does not work we can get Rush Limbaugh or Pat Robertson or James Dobson or Bill O'Rieley or Jeremiah Wright or Pope Benedict to distract them.)

Only "unworthy mortgage holders" loose their homes, they had no business in that house to begin with. It won't really hurt the nation as a whole if 5 or 6 million more families loose their homes and have nowhere to go.

The good & health of the nation at large is not effected because of 40+ million citizens that do not have health care living within their midst: and the well being of the nation at large is not effected because reasonable food is becoming less available & more expensive.

The long term effect on the nation is not impacted by undisciplined & uneducated children reaching the age of maturity: and the nation at large is not effected by the lack of suitable jobs for a growing population.

They will never understand how a few of us can make really BIG BUCKS by moving our companies to China, and then getting huge tax breaks to pay for the cost of the move: or how we can give tax breaks to oil & gas companies so they can rake in the BIG dollar profits. (We have kept them in their gas guzzling trucks, and they will have to buy gas to get to work & buy food; and then to go camping & to concerts & on vacations.)

If we scare them enough, they won't understand we can then use a lot of their money to give our friends BIG money contracts to work & fight in Iraq: also these same secret & private contract soldiers might be a good insurance policy if some of the public starts to get wise. (Who said individual people can't have private armies.)

No one will notice if we keep the really good schools expensive & closed for our kids: that way the others will have no choice but to work in the mines or pick grapes for us.

And no one will really notice if we keep getting those same people & their relatives whom we can bargin with elected: we have to keep the power held close within those we can manipulate. (So by all means buy & manage the news media: keep the people wondering & confused with distortions & disinformation about any one we can not trust: let some of those politicians we know we can manipulate get wealthy, then they will have more to loose and so we can get them elected, and then through them manage the people.)

This Memo is TOP SECRET: destroy and eat, after reading: and then use only external toilets and bury excrement. By Dir ...pjwky

Just out of curiosity, what innovations do you think the mass media is failing to mention?

And of those innovations, which have Bush and Republicans sought to promote and which have they sought to squash?