NEVER LET A SOCIALIST PROGRESSIVE LIE ABOUT WHO SUPPORTS OBAMAAlan Greenspan, chairman of US Federal Reserve 1987- 2006
Only a couple of years ago the long-serving chairman of the Fed, a committed free marketeer who had steered the US economy through crises ranging from the 1987 stockmarket collapse through to the aftermath of the 9/11 attacks, was lauded with star status, named the "oracle" and "the maestro". Now he is viewed as one of those most culpable for the crisis. He is blamed for allowing the housing bubble to develop as a result of his low interest rates and lack of regulation in mortgage lending. He backed sub-prime lending and urged homebuyers to swap fixed-rate mortgages for variable rate deals, which left borrowers unable to pay when interest rates rose.
For many years, Greenspan also defended the booming derivatives business, which barely existed when he took over the Fed, but which mushroomed from $100tn in 2002 to more than $500tn five years later.
Billionaires George Soros and Warren Buffett might have been extremely worried about these complex products - Soros avoided them because he didn't "really understand how they work" and Buffett famously described them as "financial weapons of mass destruction" - but Greenspan did all he could to protect the market from what he believed was unnecessary regulation. In 2003 he told the Senate banking committee: "Derivatives have been an extraordinarily useful vehicle to transfer risk from those who shouldn't be taking it to those who are willing to and are capable of doing so".
In recent months, however, he has admitted at least some of his long-held beliefs have turned out to be incorrect - not least that free markets would handle the risks involved, that too much regulation would damage Wall Street and that, ultimately, banks would always put the protection of their shareholders first.
He has described the current financial crisis as "the type ... that comes along only once in a century" and last autumn said the fact that the banks had played fast and loose with shareholders' equity had left him "in a state of shocked disbelief"
Billionaires supporting Obama/Hillary Clinton:
1. Warren Buffet-Quasi-capitalist/social ist
2. George Soros-Socialist
3. Michael Armand Hammer and son Armie Hammer-Socialists
4. Carlos Slim-Mexican National, corporation owner of ObamaPhones
5. Oprah Winfrey-Liberal Christian
6. 6 of the 7 wealthiest counties in USA voted for Obama
Then look at the happy Hollywood millionaires club who strongly supported Hugo Chavez of Venezuela socialism and wanted it here in America, touted Affordable Healthcare. As you stated before look to Venezuela's situation if you need a lesson in what happens.
This is what America will look like by the time Obama runs to the end of his term in 2016.
Obama Administration planners know this too they are planning on it. If we can't get the right politicians to represent us in Washington D.C. in 2014, then we will see what is happening in Venezuela now right here in America.
We should never pretend we haven't been warned. Now what are we going to do about it?