Thursday, February 19, 2009

Greenspan Suggests Nationalizing Banks

Continuing his descent into pragmatism-induced insanity, Alan Greenspan is suggesting that "temporarily" nationalizing the banks is the least bad option open for dealing with the credit crunch.

I don't know whether ex-Fed Chairman Greenspan is simply a morals-blind technocrat or trying desperately to cover up his blunders. I don't know whether he is vicious or simply senile.

I do know he is wrong.

Any other comment would entail a long string of obscenities, so I'll leave it there.

[Hat tip: Gods of the Copybook Headings]


-bjp said...

When's the last time the government started any program that was "Temporary"?!?

The Tennessee Valley Authority (TVA) has outlived it's original commission by some five decades or more.

I see the TVA no longer exists - NOT!

Jeff Perren said...

Well... one could argue that the Constitution turned out to be temporary. Tragically.