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Visit freecitizen-1058038's column >>

FREECITIZEN-1058038

Articles Posted: 3  Links Seeded: 3
Member Since: 4/2009  Last Seen: 6/09/2011

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The Warning: Must See Frontline Video

Seeded on Sun Nov 15, 2009 12:25 PM EST
Read ArticleArticle Source: PBS
politics, wall-street, clinton, allen-greenspan, robert-ruben-corruption
Seeded by freecitizen-1058038
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This is a great American story about a lonely heroine Brooks Lee Born who tried in vain to challenge the radical free market views of Allen Greenspan and Robert Ruben during the Clinton administration as the seeds of our financial destruction were sown.

Greenspan's world view will surprise you, in that he actually suggested that prosecuting fraud would constitute an intolerable government intrusion in the free-market system.
He actually believed that the market would deal with fraud on its own and that the people involved would naturally act in accord with their fiduciary responsibilities to the public and their stockholders. It was a world view he has since repudiated in congressional testimony as being at variance with demonstrated reality.

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  • Public Discussion (11)
freecitizen-1058038

This film is beautifully constructed and worth watching based on its artistic merits alone. the photography is amazing.

  • 7 votes
Reply#1 - Sun Nov 15, 2009 12:31 PM EST
Eric AlbertDeleted
kiml

I was gone for an hour. Worth every minute. Shows you who really runs the country. Very scary.

  • 6 votes
Reply#3 - Sun Nov 15, 2009 2:01 PM EST
cyrano-759306

Eric Albert: In my heart, I agree with your post. In the real world it'll never happen. We have to work with what we've got, and WE are the government if WE do our jobs. All politics are local.

We need to reinstate reforms, especially Glass - Steagall. Some bills are up now - such as Dodd's Fed reform. Instead of shooting the messenger people should read the bill. Keep up the pressure to get more written and enacted.

Our legislature is largely bought off. Campaign Finance Reform will apply the brakes. Keep 'em honest and if they aren't, vote them out!

Greenspan admitted he was wrong. That's AFTER the damage was done when he held the guru god-like status controlling all things financial. We have a huge mess to continue trying to clean up, and we have an impatient public who want their miracles (life as it was) now!

So the foxes were put in charge to shore up the whole global house of cards. It's up to us to relentlessly apply the pressure for reforming it - making it responsible.

Defeatists stay stuck. I've lived long enough to see great changes - civil rights and women's rights legislation being at the top of my list.

No system of government is perfect in practice, but ours in its structure allows for change. That's the key.

  • 2 votes
Reply#4 - Sun Nov 15, 2009 2:02 PM EST
Eric AlbertDeleted
cyrano-759306

Eric Albert: Thanks for your thoughtful post! And I completely agree that social principles are in effect perfect. I believe mine are alive and well; and as much as any of us can know ourselves, I believe my principles aren't corrupted by "centrism", nor controlled by "liberal class whores". I believe I'm much smarter than that and am very aware that we're all being used to a greater or lesser extent by others.

Regarding your views on Wall Street and Empire, we're in lock-step agreement. But I think re-regulation and controls can shut down some of the excesses. If we instead storm the castle, I'll be a member of the angry crowd.

Time and my own experience has tempered my impatience and anger into pragmatism. I just keep trying to fix what's broke and support those who agree. It's an arduous mind-numbing process; and after watching the entire house health care debacle, we're all again reminded of the insane obstacles we face.

The positive changes in my life which have occured (always achieved through intense, unrelenting grass roots pressure) give me hope that this process can continue to work if we keep chipping away at it.

Your voice is very important and should be heard over and over.

My whole point, I guess, is that when it comes time to push the lever, I wish all voters of conscience will consider the Gore/Bush election results. Nader was the decider of that election even when counting the stolen votes. I was very tempted to vote for Nader but pragmatism took over since I realized Nader didn't stand a chance. There weren't enough of us pragmatists and certainly not enough conscience voters.

Thanks again for your response!

  • 2 votes
#4.2 - Sun Nov 15, 2009 7:32 PM EST
Reply
freecitizen-1058038

There was a Frontline video from the early nineties called "The Crash" about how these same boys used billions of Tax dollars to quietly engineer a huge bail out of these same big investment banks who were lending money at 24% interest A MONTH to places like Mexico, Russia and Brazil. Naturally witht those terms default was only a matter of time.

Currency speculators in Thailand drove that nation into the ground and that precipitated a cascade of currency rip offs all over the planet that quickly spread to Latin America where their currencies came under speculative attack making it impossible for them to service their international loans denominated in U.S. dollars.

The so-called free marketeers Rubin and Greenspan stepped in with hundreds of millions of Federal Reserve dollars and IMF money to make the investment banks whole. They let only one government (Russia) sink under the pressure because most of the money in that lending scheme belonged to the liberal minded financier George Soros.

Way back then Frontline identified the two U.S. Senators who sponsored the legislation that made THAT wreckless speculation possible. Their names were Christopher Dodd and Joe Leiberman

  • 5 votes
Reply#5 - Sun Nov 15, 2009 3:06 PM EST
DS04

They let only one government (Russia) sink under the pressure because most of the money in that lending scheme belonged to the liberal minded financier George Soros.

Free are you saying that some powers wanted George Soros to fail? Curious as to what would have happened if he was allowed the same rights as others?

Saw the video when it came on pbs a few weeks back, well made and ignored by MSM to the publics detrement and at the cost of our economy. I would like for Mrs Born to receive national attention and the blame to be placed on Greenspan, his cronies, and every president that has utilized his method to destroy America.

  • 3 votes
#5.1 - Sun Nov 15, 2009 4:01 PM EST
Reply
krounded

Nothing surprises me about Greenspan's world view. I think a lot of others felt and still feel fraud is a natural part of the free market that some want to preserve it at all costs. I have not been able to buy any durable good I did not get ripped off on for 10 years.

I saw Greenspan on C-Span coverage of a committee meeting regarding the GA drought and failure of the onion crop. The farmers came to the committee to ask for low interest loans so they could keep their farms. Greenspan argued that the government should not help the farmers. I lost a lot of respect for that man that day.

  • 6 votes
Reply#6 - Sun Nov 15, 2009 3:07 PM EST
freecitizen-1058038

One need only look at the surrealistic convoluted nature of the healthcare "debate" to understand who owns this government lock, stock and barrel. I can only laugh when some folks point an accusing finger at Afghanistan's "corrupt" government. We just go ripped off for trillions of dollars and all I hear across the land is some confused and manipulated tea baggers and mostly snoring from everybody else.

When the real effects of this latest heist set in, the culprits will be long gone. President Zippity Doo Da will do still another a populist song and dance expressing OUR rage but covering THEIR escape.

Suddenly old folks are going to wonder why the Chinese cut us off and we just can't continue to finance Social Security any more. The good news for the rest of the world is that our blood swolen military industrial penis will shrivil to the size of a tiny worm and we'll be barely able to float a row boat on the Potomac.

  • 4 votes
Reply#7 - Sun Nov 15, 2009 3:31 PM EST
Brian-497171

Ah yes, the uber-profiteer can only do good.

We just got robbed, AGAIN!

  • 4 votes
Reply#8 - Sun Nov 15, 2009 4:38 PM EST
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