A Free Market Macht Frei !

Alan Greenspan has apparently discovered Original Sin; i.e., the propensity of mankind to do evil...even the vaunted business class: The Huffington Post http://www.huffingtonpost.com/donald-cohen/the-education-of-alan-gre_b_139115.html  
The Education of Alan Greenspan  
Donald Cohen Posted October 29, 2008 10:06 PM (EST)  

Greenspan 1963: Writing in Ayn Rand's Objectivist Newsletter, Greenspan declared as myth the idea that businessmen "would attempt to sell unsafe food and drugs, fraudulent securities, and shoddy buildings. It is in the self-interest of every businessman to have a reputation for honest dealings and a quality product." Greenspan 2008: Testifying before the House Committee on Oversight and Government Reform, Greenspan recanted: "Those of us who have looked to the self-interest of lending institutions to protect shareholders' equity, myself included, are in a state of shocked disbelief.... This modern [free market] paradigm held sway for decades. The whole intellectual edifice, however, collapsed in the summer of last year." ... In 1992, the GAO, asked by Democratic Congressman Ed Markey to study the impact of new and complex financial derivatives, concluded presciently that "The sudden failure or abrupt withdrawal from trading of any of these large U.S. dealers could cause liquidity problems in the markets and could also pose risks to others, including federally insured banks and the financial system as a whole. In some cases intervention has and could result in a financial bailout paid for or guaranteed by taxpayers."

I believe this verifies what has been said here that "trickle-down" economics was a specious justification for theft. There is trickle-down, indeed. Trickling...slowly, slowly, oh, so slowly. They even told you the truth: trickling, not flowing...not even a slow flow... a trickle, for heaven's sake! It was and is Theft. Those responsible should be held accountable. Even Reagan.