~REP. BERNIE SANDERS & ALAN GREENSPAN, FED CHAIR in 2003. Part 1. The Warning 10 YEARS AGO.
Last edited Sat Apr 18, 2015, 11:42 AM - Edit history (1)
~~ At this 2003 US ECONOMIC OUTLOOK: House Financial Services Committee session, Rep. Sanders of Vermont educates Alan Greenspan, Chairman of the FEDERAL RESERVE first appointed by Reagan in 1987. Greenspan was regarded as a free market, anti-regulation, LIBERTARIAN 'economic policy sage' and self-described disciple of AYN RAND.
His lengthy tenure as Fed was known for EASY MONEY POLICIES, derived from financial deregulation and new derivative products. Later, those financial practices were thought to be the main cause of the *SUBPRIME MORTGAGE CRISIS which occurred within months of Greenspan's departure from the Federal Reserve after 20 years in 2006, just before the global financial crisis began in 2007.
In this Congressional session in 2003, 5 years before the *FINANCIAL CRISIS of 2008, Rep. Sanders wastes no time in informing Greenspan about the decline of American manufacturing and jobs OUTSOURCED to cheaper labor countries in Asia by the millions. People are facing the loss of healthcare, doubt that they can afford to send their kids to college, and are concerned about bankruptcy. The Congressman also emphasizes the lack of assistance for children, seniors and veterans.
During this 2003 event, Sanders realizes that the Fed Chairman is out of touch with the needs of working families, and says that he represents the needs of the wealthy and large corporations. Sanders tells Greenspan emphatically, "you don't know what is going on in the real world...THE MILLIONAIRES AND BILLIONAIRES are the exception to the rule".
The serious issues facing America that Congressman Sanders laid out over 10 years ago are a clarion call for us to take immediate action to arrest this direction, that if continued will mean more radical changes for our families, communities, the environment and our democratic way of life. We have been informed and warned by him since *2003 for more than a decade. It's time WE unite, educate others and STEP UP THE FIGHT TO PRESERVE AMERICA. ~~~
*Please take 5 minutes to watch this video to learn what is taking place in America.*
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Bernie deserves a Medal! many Medals in fact!! 
demeanor. It was righteous! And didn't realize Sanders was warning how bad things were that many years ago. 
under global corporate rule, very insignificant and moreso every year it appears-
It's concerning to say the least. And leave it to Bernie to be the one telling it like it is, this long ago. I'll be out for the next couple days but would appreciate if some check in and see that this is staying K & R'd. It's real serious Woo. Thanks- Appa. 
and Bernie's truth. Hope this stays K & R'd because many need to see and understand it. I'll be out for a couple days, but will try to check on how this OP is moving. It's very important-
I have republican relatives and friends and they always click like on Bernies stuff that I post. Bernies quotes on taking care of Veterans really get them going. 
Bernie could win.
Makes you wonder where the 'institutional memory' is, or if it's intentionally obscured..
Money trumps peace! 
scoundrels and Sweden for nationalizing the banks! 
