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Backlighting

Greenspan: financial crisis doesn't indict Ayn Rand theories.

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It wasn't the theory, it was the practice. Where have I heard that before?

Ba'al Chatzaf

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Alan Greenspan is the Francisco D'Anconia of Objectivism. He didn't destroy the economy by destroying his copper mines, he destroyed the economy by being Chairman of the Federal Reserve.

--Brant

the rest is just inertia

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Greenspan didn't mention Ayn Rand, the interviewer did. Greenspan just stuck to his talking points.

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It wasn't the theory, it was the practice. Where have I heard that before?

I don't think that's an entirely fair summary of what Greenspan said.

Greenspan's argument was that the GFC was exacerbated by a completely false theoretical understanding of "risk."

I wouldn't have used that argument. I'd have pointed to the fact that the financial industry is heavily regulated, intervened in etc. etc. Of course, if we pointed to the elephant in the room (THE FED), Greenspan would look much more guilty than he already looks. So I think Greenspan was partly trying to deflect blame.

Otherwise, I think its good Greenspan actually denied the allegation that Rand's ideas are to blame for the GFC.

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Alan Greenspan is the Francisco D'Anconia of Objectivism. He didn't destroy the economy by destroying his copper mines, he destroyed the economy by being Chairman of the Federal Reserve.

--Brant

the rest is just inertia

So where was his "Brother, you asked for it" sign?

Ba'al Chatzaf

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Alan Greenspan is the Francisco D'Anconia of Objectivism. He didn't destroy the economy by destroying his copper mines, he destroyed the economy by being Chairman of the Federal Reserve.

--Brant

the rest is just inertia

So where was his "Brother, you asked for it" sign?

Ba'al Chatzaf

Good question!

--Brant

don't know

Edited by Brant Gaede

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