Diskussionsthread: Alan Greenspan, ehemaliger Vorsitzender der Federal Reserve, stirbt im Alter von 100 Jahren

Damn. I guess he won’t be running for president next election

Dude died. /discussion

Bye.

The mod explanation doesn’t help. This didn’t need to be a discussion
thread.

From the BBC.

> In October 2008, Greenspan admitted that he had put too much faith in the free-market and had given insufficient attention to the dangers of sub-prime lending.

> He said he’d believed that the financial industry could be relied upon to „self-regulate“ because it would always be in its best interests to do so.

> In testimony to Congress, the former Federal Reserve chairman confessed that the banks had proved his free-market, anti-regulation views wrong.

> „I have found a flaw. I don’t know how significant or permanent it is. But I have been very distressed by that fact.“

He was also an early acolyte of Ayn Rand.

> In 1952, Greenspan met the right-wing novelist and social philosopher Ayn Rand, whose views were to have a profound influence on him.

> She called him „the undertaker“ because of his liking for dark, sombre suits.

> But the young economist came to support her belief that society functions most efficiently when people actively pursue their own self-interests, to the exclusion of the interests of society as a whole.

> In an article he wrote in 1966, he declared „the welfare state“ as „nothing more than a mechanism by which governments confiscate the wealth of the productive members of a society“.

Based off that article, he had those early views of classical GOP economics and based his decisions off of them but ultimately saw that the very system he protected, proved him wrong.

*pounds Universal Claw Machine^TM*

This thing is broken…

I feel Irrational Exuberance

Thanks for fucking up my country for decades to come! Bye now!