Resurrecting Greenspan: Hillary Joins the Vast, Rightwing Financial Conspiracy

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Counterpunch On Monday, March 24, presumably representing Wall Street – as any New York senator must do in view of its dominant financial role in the state’s political campaigns – Hillary Clinton proposed that Congress show its bipartisan spirit by appointing an “emergency working group on foreclosures,” to be led by none other than Alan Greenspan and earlier Federal Reserve Chairman Paul Volcker, and Clinton Treasury Secretary Robert Rubin. Her idea was for them to come up with a plan to alleviate the subprime and financial crisis. This seems like calling in arsonists to help put out the fire that they and their own constituency had set in the first place. Their lifelong interest, after all, had been to promote deregulation ...

A Trillion-Dollar Rescue for Wall Street Gamblers, But No Money for Families and Retirees

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Counterpunch If the move to a Unitary Executive of unfettered presidential power frightens you, America’s radical right turn to Unitary Finance should compound your fears – and your debts as well. The financial events of the last two weeks of March 2008 demonstrate that the “economic royalists” and “money changers” whom Franklin Delano Roosevelt (FDR) drove from the temple of finance have returned to mismanage our economy into dire straits of unprecedented risk – debt creation, euphemized as “leveraging” and “wealth creation.” The few checks and balances that remain in the way of the financial sector’s increasingly centralized planning, especially at the state level, are being swept aside under the guise of “saving the system.” Few Wall Street beneficiaries who use this ...