My question is whether Greenspan is Bernanke’s alter ego (bad cop to Gentle Ben’s good cop).

Seriously brilliant statement. Needs to be engraved into the granite steps at the Treasury building.

cougar

We have laws, rules and regulations [do I really have to say this?] because man’s inhumanity to man can be taken for granted as well as his/her short sightedness and failure to see how how individual behavior effects others; failure to see the consequences of one’s behavior is the reality of children as the Chinese have recently accused the US of being by suggesting that we need adult supervision. Most of us like living in a civil society.

Lawlessness in a society can go so far as to become the zeitgeist that forces everyone who wishes to survive to join. That is what happened here.

People like Greenspan have lost all credibility; he has no credibility. Its only a failed information industry that would take him seriously enough to print. He has less credibility for all the harm he has done to the people of the world than any cult leader or follower; he not only played both sides of the Ayn Rand Institute enterprise he takes pride in talking double talk in his appearances before Congress and making fools of them like any petty criminal who when committing a crime believes there are no rules and that those who follow rules are fools.

If it acts like a duck, talks like a duck, it is a duck. Greenspan acts like a crook, talks like a crook, and is a common crook.

Re: "We’re on the edge and if this thing doesn’t get resolved quickly I’m worried,”

> I just read the latest Newsweek, which seems to be like a cross between an infomercial, public relations effort and advertisement which is pumping like a steroid syringe, screaming to readers that the recession is over and that Bernanke, Paulson, Timmy, Bush and Obama clearly have helped get us back on course.

This new ground scrapping low in investigative journalism by Newsweek, once again connects media-wide conflicts of interest with the desire for their shareholders to profit (in some twisted way) from creating news and information that is spun to falsify, manipulate and mask harsh reality, aka truth.

To have Greenspan thinking outside The White House Spinning Box is really weird, because who ever have thought that Americans would look to Greenspan for balance and truth.

If a guy with that close contacts with the banks, and that record of non-intervention, says banks need a lot more capital, isn’t it very, very probable that they really do need a lot more capital than the Treasury has yet got them to raise?

How badly would someone have to fail to lose credibility with this media, if what he stands for is the debt/growth delusion the current media depends upon for its existence?

Which is the same question as, How badly does this ideology itself have to fail to lose credibility?

It looks like no one is capable of learning a lesson short of a complete and irrevocable disaster. Thus, e.g., the squandering of precious time and resources on zombie banks.

a