Greenspan stirring the pot

[01WhiteCobra]

Alan Greenspan claims Iraq war was really for oil (http://www.timesonline.co.uk/tol/news/world/article2461214.ece)

[Vertnut]

That old bastard can't stand NOT being in the lime-light...

[TexasDevilDog]

Greenspan, 81, is understood to believe that Saddam Hussein posed a threat to the security of oil supplies in the Middle East.


What other war hasn't been started over natural resources? And wars between Russia and Sweden don't count. ;)

[Sgt Beavis]

He clarified his statements. He wasn't criticizing the war, just pointing out that ousting Hussain was essential to secure the worlds oil supply. He wasn't making the case that it was the administrations prime motive.

http://www.washingtonpost.com/wp-dyn/content/article/2007/09/16/AR2007091601287_pf.html

[Mustangman_2000]

He clarified his statements. He wasn't criticizing the war, just pointing out that ousting Hussain was essential to secure the worlds oil supply. He wasn't making the case that it was the administrations prime motive.

http://www.washingtonpost.com/wp-dyn/content/article/2007/09/16/AR2007091601287_pf.html

I find the first short paragraph very interesting. ;)

Alan Greenspan, the former Federal Reserve chairman, said in an interview that the removal of Saddam Hussein had been "essential" to secure world oil supplies, a point he emphasized to the White House in private conversations before the 2003 invasion of Iraq.

[AL P]

Alan Greenspan is a master of the obvious.

[jones4stangs]

"I have never heard them basically say, 'We've got to protect the oil supplies of the world,' but that would have been my motive."

So, the "money man" is saying taking out Sadamm is good for the money.

My goodness, who did the President Bush talk to in the white house who didn't think invading Iraq would work out in our favor? Good for CIA, good for oil companies, good for defense contractors, and good for the economy.... shit! how could he resist such an opportunity?

[BP]

Paul Volcker called and told Greenspan to STFU. What he thinks doesn't matter anymore and if it wasn't critical of Bush it wouldn't be news. I'm suprised they aren't quoting Colin Powell still.

[jones4stangs]

Testimony of Dr. Alan Greenspan
Committee of Government Oversight and Reform
October 23, 2008

http://oversight.house.gov/documents/20081023100438.pdf

As I wrote last March: those of us who have looked to the self-interest of lending institutions to protect shareholder’s equity (myself especially) are in a state of shocked disbelief. Such counterparty surveillance is a central pillar of our financial markets’ state of balance. If it fails, as occurred this year, market stability is undermined.
What went wrong with global economic policies that had worked so effectively for nearly four decades? The breakdown has been most apparent in the securitization of home mortgages. The evidence strongly suggests that without the excess demand from securitizers, subprime mortgage originations (undeniably the original source of crisis) would have been far smaller and defaults accordingly far fewer.
.........

It was the failure to properly price such risky assets that precipitated the crisis.
..........

As much as I would prefer it otherwise, in this financial environment I see no choice but to require that all securitizers retain a meaningful part of the securities they issue. This will offset in part market deficiencies stemming from the failures of counterparty surveillance.
There are additional regulatory changes that this breakdown of the central pillar of competitive markets requires in order to return to stability, particularly in the areas of fraud, settlement, and securitization.

[bullet]

Nonsense, the reason was payback for saddam trying to kill the elder bush back in the early 90's .

You think bush or cheney care if the oil price is high ?

The higher it goes the more they make.

[Shaithis]

Typical democrat response. blame Bush.

[thesource]

Alan Greenspan is a master of the obvious.

Exactly ...... I would have never guessed that oil was a factor in the war .

[Denny]

I've just completed the longest yawn in my life.

[jyro]

"Greenspan said his mistake was thinking that financial institutions would act in their own self-interest to avoid the kind of risky lending that could bankrupt them.

"Free markets did break down," he testified. "That, as I said, shocked me. I still do not fully understand what happened." "
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/10/23/BUI513N8QM.DTL

What the fuck!