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Is Greenspan really Francisco D'Anconia?

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adrock3215

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Jeez, I just listened to the mp3 podcast linked in references of the Glass-Steagall Act webpage. The host was so incredibly bias and anti-capitalist, it's a shame someone linked it to a wikipedia article (unsurprising however). I checked the parent directory of the site and waddya know, it's a site called altruists.org. :)

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  • 4 months later...

The Financial Times is reporting that Greenspan has come out for nationlizing some banks:

”It may be necessary to temporarily nationalise some banks in order to facilitate a swift and orderly restructuring,” he said. “I understand that once in a hundred years this is what you do.”

http://www.ft.com/cms/s/0/e310cbf6-fd4e-11...0077b07658.html

If Greenspan is trying to wreck capitalism, he's doing a decent job of it.

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The Financial Times is reporting that Greenspan has come out for nationlizing some banks:

”It may be necessary to temporarily nationalise some banks in order to facilitate a swift and orderly restructuring,” he said. “I understand that once in a hundred years this is what you do.”

http://www.ft.com/cms/s/0/e310cbf6-fd4e-11...0077b07658.html

If Greenspan is trying to wreck capitalism, he's doing a decent job of it.

Agreed. And it's funny that he should say to "temporarily" nationalize banks, especially since I was listening to the Atlas Shrugged audiobook earlier.

"These are only temporary measures, Mr. Rearden!" and the like.

If anyone, like Amy said, he's Dr. Stadler. I think there might be a thread on Greenspan being Stadler, actually.

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Seeing as Greenspan started on his warpath against laissez-faire when America was in much better shape than it is now, I'd say it's silly to consider it and if he were doing it, it would be immoral. America was when Greenspan was in power and still is worth saving.

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I just read the entire thread to this point. Only two arguments actually destroy the delicious idea that Greenspan might indeed be a destroyer in plain sight: 1) Ockham's Razor; 2) marriage to leftie Andrea Mitchell (what a nightmare.)

Another argument for AG as deliberate destroyer is his role in bursting the dot com surge: six hammer blow interest rate jack-ups starting mid-1999 in an apparent attempt to deflate irrational exuberance. He final did improperly burst the bubble. But meanwhile he threw the normal economy, which was building to a new level of productivity and prosperity, into a tailspin. The proper move, if he were not a destroyer, would have been to hold the course, let the truly vapid dot coms burst themselves, but stay out of the way while a new age of capitalism emerged.

But....if he is a secret destroyer in plain sight.....what would be the purpose of blaming Objectivism specifically, as he did in his testimony a few months ago? He could have just stonewalled with gibberish. No one could better him in that.

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In a secret meeting in a small ramshackle office down an alley next to the Russian Tea Room, an ailing and fading Ayn Rand gave Alan Greenspan his final instructions.

"There is too much productivity," Miss Rand told him. "It is propping up the looters. The collectivists have a stranglehold on the universities. The Enlightenment is fading into the past. We are headed into a new Dark Ages. You must accept the job of Federal Reserve chairman and pronounce gibberish for as long as you can and do the stupidest possible things so that no surge enables the collectivists."

"Won't people figure that out?" muttered the Undertaker. "A few people have read Atlas Shrugged."

"Prattle on about the gold standard once in a while," she said, sadly. "But then announce that inflation is caused by too much productivity."

"Couldn't I just blow up the Treasury Building instead," he pleaded.

She seemed not to hear him. "I order you to become dictator of the economy."

"I will be hated by everyone."

"At least you will still be alive."

"You never told me I'd have to sacrifice like this," he whined.

Ayn Rand gave him a look that could have turned gold into lead.

"You can marry some young thing and be happy in secret. You will know your job is done when they nationalize the banks."

"Is that it?"

"When a certain moment comes," she said with deadly intent, "you must blame it all on me. I have my reasons for that."

As twilight descended on the city, the forlorn figure of the gaunt man could be seen furtively emerging from the alley. He trudged along 57th street and finally ducked into an expensive but dingy bar. Waiting for his first scotch to be poured, he could be heard to mumble.

"Who the hell is John Galt now?"

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