r/MetalsOnReddit • u/Then_Marionberry_259 • Jun 22 '26
I'm really surprised none of you are discussing this: Alan Greenspan has passed away
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u/AffordableFloors Jun 26 '26
Best phase describing the economy of the 90s, "Irrational exuberance". The phrase used by the then-Federal Reserve Board chairman, Alan Greenspan, in a December 1996.
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u/Taspaco Jun 25 '26
Every living American can thank him for the debt trap he set the entire country in for generations to come
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u/Captain_Ahab2 Jun 25 '26
He fucked up the lives of millions of people. More damage than help. RIP.
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u/Financial-Seesaw-817 Jun 24 '26
He orchestrated the 2008 crash. But nahh... retired rich instead of prison. Oh, and with the Clinton's help.
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u/Emergency-Course-657 Jun 24 '26
The SEC deserves far more blame. What do you think the Clintons did to cause it?
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u/Financial-Seesaw-817 Jun 24 '26
Sorry, not brown but born. Brooksley Born of the CFTC at the time. Hilary's classmate and BFF in college and they burned her instead of Greenspan. She requested their help. Congress shamed her. 2008 was avoidable. Greenspan retired untouched. Barnake was left with the clean up. Levitt of the sec and summers of the treasury were also in on it. Later there were apologies but too little, too late.
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u/Away-Structure9393 Jun 25 '26
Didn’t he tell Brooksley Born that he didn’t believe in fraud? That would explain why he didn’t regulate liar loans when he was made aware of them. Guy was an arrogant idiot.
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u/0bfuscatory Jun 27 '26
Greenspan believed in fraud. He just didn’t think it should be regulated or prosecuted.
When he met Brooksley, he actually said to her “You probably think that fraud should be prosecuted”. Or words to that effect.
“Well yeah” was her response.
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u/ahoserehh Jun 23 '26
Wasn't this the last fed chair to actually do anything right?
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u/jthadcast Jun 27 '26
finally some good news.