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T H E B A L D E A G L E J O U R N A L September 2008 Copyright (c) TFG 1993-2008 Editor: C. Franklyn III |
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BULLETIN: FOR IMMEDIATE RELEASE! SAT. SEPT. 20, 2008 NOW IS THE TIME TO INVESTIGATE DR. ALAN GREENSPAN'S TENURE AS FED CHIEF FROM 1987 UNTIL 2006 TO LEARN WHY HE ALLOWED THE COMMERCIAL BANKS AND THE REGULAR DEPOSITOR BANKS TO RETURN TO THE OLD SYSTEM THAT CAUSED MUCH OF THE 1929 CRASH! WHY WERE THE TWO DIFFERENT VIEWPOINTS (THAT OF PREVIOUS FED CHIEF VOLKER AND GREENSPAN NOT FULLY EXPLORED AND DEBATED, THEN MADE KNOWN TO THE U.S. CITIZENS BY THE CONGRESS OR THE MEDIA? THIS IS WHERE THE DIRTY DEED WAS DONE -- WE NEED A POST MORTEM ON THIS IMMEDIATELY!! IF WE WAIT UNTIL AFTER THE ELECTION, IT WILL BE TOO LATE! BEFORE LEAVING OFFICE (1987), FED CHAIRMAN PAUL VOLKER, WARNED THAT THE COMMERCIAL BANKS WHO BLINDLY ACCEPT BAD HOME MORTGAGES MUST NOT BE ALLOWED TO ENDANGER THE COMMUNITY BANKS. HOWEVER, DOUBLE-TALKING GREENSPAN, A FOLLOWER-DISCIPLE OF AYN RAND'S KOOKY OBJECTIVISM, DISAGREED AND HE CHANGED THE SYSTEM. THE DEMOCRAT CONTROLLED CONGRESS UNDER TIP O'NEAL AND MITCHELL MADE NO OBJECTION SINCE THE WALL STREET LOBBY HAD ALREADY GREASED THE PALMS OF THOSE OM THE SENATE BANKING COMMITTEE! THE REASON FOR A CHANGE BACK TO THE OLD SYSTEM OF INTERLOCKED BANKS IS OBVIOUS: DEREGULATE AND OVERHEAT THE ECONOMY! THAT MEANT THAT THE MOST IMPORTANT PROTECTIVE FIREWALL AGAINST ORDINARY DEPOSITORS LOSING THEIR ASSETS DUE TO THE SALE OF BUNDLED MORTGAGES ACROSS THE ENTIRE BANKING SYSTEM WOULD EXPOSE YOUR MONEY TO LOSSES IF AND WHEN WALL STREET INVESTMENT BANKS FAIL. THERE WAS NO FIREWALL OR ANTI-VIRUS PROTECTION! THIS IS EXACTLY THE SCENARIO THAT HAS OCCURRED! WAS GREENSPAN PRESSURED BY THE INVESTMENT BANK TYCOONS -- HIS NEW YORK CITY COUSINS? DID THE PRESIDENTS APPROVE OF A TACTIC THAT WOULD IMPROVE THE ECONOMY DURING THEIR TERMS? A CAREFUL STUDY OF DR. GREENSPAN'S BACKGROUND WILL PROVIDE THE ANSWER TO WHY ALL OF THIS HAPPENED (MORE ON THIS LATER UNDER PERSONALITY ANALYSIS). THOSE OF YOU WHO HAVE READ MY BOOK ON LEFT BRAIN-RIGHT BRAIN PROFILES WILL SEE IN THIS INTRIGUING BUT SORRY STORY WHY GREENSPAN SHOULD HAVE REMAINED AT JULLIARD TO BECOME A PROFESSIONAL CLARINETIST! IT IS DANGEROUS TO PUT A MAN WITH HIS KIND OF L/R PROFILE IN CHARGE OF SOMETHING AS CRITICAL AS OUR NATION'S ECONOMY! I WANT TO SEE PEOPLE LIKE GREENSPAN, BILL CLINTON, CHRIS DODD, JIM JOHNSON AND FRANKLIN RAINES FORCED TO ACCEPT RESPONSIBILITY FOR THIS TRILLION DOLLAR LOSS TO THE AMERICAN TAXPAYERS! I ALSO WANT TO HEAR WHAT IT WAS ABOUT GREENSPAN THAT CAUSED SEVEN PRESIDENTS TO PLACE THE FATE OF THIS NATION'S ECONOMY IN THE HANDS OF DR. GREENSPAN WHOSE OBFUSCATING REPLIES TO THE SENATE WERE OFTEN MORE INSULTING THAN INFORMATIVE! WHY DO POLITICIANS IN WASHINGTON GIVE SO MUCH CREDENCE TO JEWISH GURUS LIKE GREENSPAN? WHICH PRESIDENTS FOUND SO MUCH TO LIKE IN DR. GREENSPAN'S BEDSIDE MANNER? THEIR NAMES ARE: NIXON, FORD, CARTER, REAGAN, BUSH #41, CLINTON AND BUSH #43. REAGAN APPOINTED HIM AS FED CHAIRMAN! AT THE HEAD OF THIS PROCESSION OF DISGRACED NATIONAL LEADERS IS ALLEN GREENSPAN WHO HELD OTHER APPOINTMENTS INCLUDING THE CHAIRMANSHIP OF THE FEDERAL RESERVE SYSTEM UNDER SEVEN DIFFERENT PRESIDENTS! THE GROTESQUE NATIONAL CALAMITY WE NOW FACE IS A PERFECT EXAMPLE OF HOW INCOMPETENT LEADERS IN WASHINGTON BECOME HYPNOTIZED BY A ALLEGED JEW INTELLECTUAL WHOSE ENIGMATIC MANNER AND NEW YORK STYLE BEGUILED PEOPLE IN WASHINGTON, DC FOR NEARLY FORTY YEARS!! I SUSPECT THAT WE NOW HAVE THE ANSWER TO MUCH OF THE BAD POLICY BEING FOLLOWED IN WASHINGTON FOR THESE MANY YEARS. GREENSPAN WAS FIRST ANOINTED BY RICHARD NIXON! EGAD! HOW DO YOU LIKE THAT FOR IRONY! C. S. FRANKLYN II * * * * * * HISTORY & FURTHER COMMENTS
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