Rep. BERNIE SANDERS Educates FED CHAIR ALAN GREENSPAN, House Financial Services Committee 2003

[appalachiablue]

Video, 5 minutes.

America's Champion of the People questions comments by ALAN GREENSPAN, Chairman of the Federal Reserve, free market supporter, deregulator and self-described Ayn Rand devotee during the height of the subprime mortgage loan period of the 2000s.

Greenspan was appointed to the Fed Chair by Ronald Reagan in 1987, and left after 20 years in 2006 at the start of the mortgage crisis meltdown.

*Bernie referred to this encounter yesterday with MSNBC media host, Ed Schultz who interviewed Bernie on his program, 'The Ed Show' about the Senator's new announcement to enter the 2016 presidential campaign.

[appalachiablue]

1. Classic. Senator Bernie Sanders, at work. For The People and the US.

[djean111]

2. A high standard of living that so many cannot even dream of reaching. Asswipe.

I had to stop watching, I was afraid Greenspan would say that poor people have refrigerators.
What a smug asswipe Greenspan is.
I do love Bernie. I do.

[appalachiablue]

5. Bernie is righteous! a fighter in the best sense. Greenspan was rather tame, had the good

sense to mainly listen; he could tell what he was up against-

I understand how difficult it is to watch Greenspan, even more to realize what was going on then. Many in power knew it, yet the people paid the price and still are.

End Reaganomics, Trickle Up, Free Market, Neoliberal, Voodoo Economics!

[NoJusticeNoPeace]

3. The prick will just nod and smile, knowing that Bernie is just pissing in the wind

that NOTHING Bernie says, or you say, or I say, will make a GOD DAMN BIT OF DIFFERENCE








until



We threaten to take OVER Wall Street and so on, by force.

and this was 12 yrs ago, right?

He needs to come out swinging like this NOW

[appalachiablue]

6. Break up the BANKS- TBTF (Too Big to Fail) & TBTE (Too Big to Exist) as Bernie said to Big Ed.

After the financial crisis Sweden nationalized their banks; Iceland prosecuted their bankers, some ran away or tried-

Bernie is RIGHTEOUS!

[NoJusticeNoPeace]

9. I had not seen that before, he needs to talk like that now

[appalachiablue]

10. Bernie will, no matter what. Just watch; it's in his nature, the drive for justice!

[BrotherIvan]

11. He IS talking like that now

In terms of Glass-Steagall, when I was in the House, I voted against all of this stuff. I predicted that by deregulating Wall Street and allowing a handful of these mega-financial institutions to grow and to merge that it would be disastrous for the economy. Of course I believe in reestablishing Glass Steagall. But let me go further. I do not believe that, given that six financial institutions have assets today around $10 trillion — 60 percent of the GDP of the United States — I do not believe that Congress has the capability of regulating Wall Street. I believe that Wall Street regulates the Congress and that you gotta break these guys up.

http://www.washingtonpost.com/blogs/plum-line/wp/2015/05/01/bernie-sanders-signals-aggressive-challenge-to-hillary-clinton/

This article is from today. Read it, he talks a whole lot more.

[NoJusticeNoPeace]

12. I meant TONE, I wanna see him get angry when a reporter FINALLY asks him a question

or pays any attention to him.

[BrotherIvan]

19. Oh man

you don't know Bernie.

[NoJusticeNoPeace]

21. But I hear him all the time, I am a close follower, and the angry tone

is what is going to get attention

I do know him, actually, quite well. As far as listening to him and following him

[appalachiablue]

16. Yes Bernie advocates breaking up the Banks & he saw the trouble deregulation could cause.

Thanks for the WaPo article, will read it.

Some realized the ugly truth.



Durbin on Congress, "The Banks own the place", Democratic Senator Dick Durbin of Illinois, 2009.

http://www.theguardian.com/commentisfree/cifamerica/2009/jun/30/congress-financial-reform-banks

[BrotherIvan]

20. That's why people are so enthusiastic about Bernie

He's not lying, he's not focus-grouped, and he sure isn't afraid.

[arcane1]

4. That was a thing of beauty.

Whittle it down to 60 seconds and it's one hell of an ad!

[appalachiablue]

8. It's Classic, Bernie at his finest with, well...you know who-

[Gregorian]

7. We need Bernie.

Fuck FOX noise, it's time to detox.

[NoJusticeNoPeace]

13. I like that DETOX FOX

[appalachiablue]

14. Definitely, going to take some work, detoxing from 20+ years of RW Hate Media- GOP TV.

BUT IT CAN BE DONE, especially when people LEARN THE TRUTH, how they've been conned, used & hurt.

*This good quality version of the video is harder to find online now. Only a poor, grainy copy usually comes up now I notice. I posted this video scene a month ago here, titled 'THE WARNING, Part 1. 2003'.

Does anyone notice younger *Rep. Rahm Emmanuel of IL (2003-2009) seated in the beginning?
PHOTO:
http://www.trbimg.com/img-51ee9986/turbine/topic-peplt000007532/200/200x200

[orpupilofnature57]

15. Alan said on the melt down " I thought they'd police themselves "

Thanks again, Ronnie .

[appalachiablue]

17. Indeed, the 'self correct' concept.

[BrotherIvan]

18. Thank you, I'm going to share this incredible video

I worked with a Greenspan...yeah, nepotism.

[appalachiablue]

22. Share this Video with all you know & make copies! It's the BEST & only good version,

SEE #14. Not hard to imagine how it might 'go missing', especially after Bernie's announcement yesterday-

(Sorry to hear you worked w/ a Greenspan...).

[BrotherIvan]

23. Ha! He was as entitled as you would imagine

Good to see Bernie whippin some ass.

[appalachiablue]

25. BERNIE, GIVES 'EM HELL!!!!

[GeorgeGist]

24. Greenspan is ...

Evil Toad

[democrat2thecore]

26. Bernie Tells Mr. Andrea Mitchell The Truth! -nt

[appalachiablue]

27. Indeed, takes all kinds-

[MisterP]

28. didn't Greenspan say derivatives shouldn't be regulated because they're beyond human understanding?

[appalachiablue]

29. Oh yes, saw in some clips today how he tried to finesse the 2008 'failure' due to

unpredictable forces and 'mysterious' fluctuations of the free market (the 'invisible hand' bull). In other words, "we're not responsible". I couldn't take it. He left the Fed after 20 years just in time, 2006 before the crash really started but was foreseen.

And the toxic derivatives, nobody even the fiancé folks could explain them. That was the 'beauty' of it... Except Federal Regulator Brooksley Born anticipated the risk in 1999 but was thwarted by The Confidence Men- Summers, Arthur Levitt, Geithner, Rubin et al. PBS Frontline did a decent program on it called 'The Warning'.

[JDPriestly]

30. Bill Clinton reappointed Alan Greenspan as Fed Chair.

Alan Greenspan admitted that his assessment of the economy was wrong. Alan Greenspan was an extremist Ayn Rand supporter. How could any Democratic president have reappointed him to Fed Chair?

It's utterly beyond me.

Can someone explain?

This issues raised in OP deserve to be the central focus in our Democratic primary. If we can raise the consciousness of Americans, the understanding of Americans regarding the serious flaws in Greenspan's and the Republicans' and the DLC, Third-Way Democrats' flawed economic beliefs, we can win the 2016 election and save the American middle class. If we can't, then our country will suffer great economic decline.

[appalachiablue]

31. 'My favorite Republican President' said by Alan Greenspan about Bill Clinton. The former Fed

tried to walk that back later by saying he meant Clinton was good on free trade, welfare, etc. Ha! There's so much that has come out about the policies and direction of the 90s and beyond, and the power of centrist Third Wayers that it's hard to take, but it's fact. Jumping on the neoliberal economics and deregulation gravy train, privatization, reducing the social safety net, and making a lot of money in the process is heady stuff. A 4th gen. Democrat, I've been stunned by my own ignorance until the last 5 years.

It's all still deeply entrenched, no surprise. Connections with wealthy banks and corporations add to the prosperity of many pols, staffers, lobbyists and others. Look at Rahm Emmanuel in Chicago, Andrew Cuomo who's said to be barely a Democrat, and former Mass. Gov. Deval Patrick now working for Bain Capital mgmt. And I thought a lot of him. Many other examples, and a list of Clinton's actions I'd better not go in to.

What it will take besides time, much effort and perhaps a political revolution as Bernie says I don't know. But money and time are not on our side, esp. concerning climate change and its global effects. But we have to continue to try, because if you don't try you can never win as Elizabeth Warren says.

[JDPriestly]

32. Thanks. I agree.