http://www.americanbankingnews.com/2009/09/09/editorial-alan-greenspan-blames-human-nature-not-himself-for-financial-crisis/ News and Information about Banks, Credit Unions and Financial Institutions Mon, 15 Mar 2010 19:34:33 -0700 http://wordpress.org/?v=2.9.2 hourly 1 http://www.americanbankingnews.com/2009/09/09/editorial-alan-greenspan-blames-human-nature-not-himself-for-financial-crisis/comment-page-1/#comment-661 bob78 Tue, 29 Sep 2009 06:44:46 +0000 http://www.americanbankingnews.com/?p=645#comment-661 The point is that the Fed policies of keeping interest rates artificially low is what caused these easy credit creation. People wouldn't have borrowed as much if the interest rates would have been higher. Instead of borrowing people would have been saving, which would have lead to real capital. No point in saving when the interest rates devalues the money through inflation. So the capitalist system as we've known it is not actually true capitalism. That's what the bankers and politicians want you to believe, in order to plant a seed in the mind of the masses we need more regulations in the market and move further toward socialism. The point is that the Fed policies of keeping interest rates artificially low is what caused these easy credit creation. People wouldn't have borrowed as much if the interest rates would have been higher. Instead of borrowing people would have been saving, which would have lead to real capital. No point in saving when the interest rates devalues the money through inflation. So the capitalist system as we've known it is not actually true capitalism. That's what the bankers and politicians want you to believe, in order to plant a seed in the mind of the masses we need more regulations in the market and move further toward socialism.

]]> http://www.americanbankingnews.com/2009/09/09/editorial-alan-greenspan-blames-human-nature-not-himself-for-financial-crisis/comment-page-1/#comment-444 anasabdelrahim Sat, 12 Sep 2009 10:11:50 +0000 http://www.americanbankingnews.com/?p=645#comment-444 economic crises are built into the capitalist system and since its emergence capitalism has been punctuated with inevitable periodic crises. so putting the blame on Alan Greenspan is as misleading as chalking it up to "human nature". I find it extremely odd that capitalists don't want to acknoweldge that their system has failed because of the incompatible development of the incongruous elements of the whole system. profit which is the alpha and omega of capitalism equals scarcity but given the coercive laws of competitions, they always end up with abundance. The move to financialization back in the 70s was triggered by the dwindling investment venues in productive capital. I think we need to move beyond the dehumanizing pursuit of profit to the next stage in human life. it is a sad commentary that in this economic crisis people don't have enough because there is too much. economic crises are built into the capitalist system and since its emergence capitalism has been punctuated with inevitable periodic crises. so putting the blame on Alan Greenspan is as misleading as chalking it up to “human nature”. I find it extremely odd that capitalists don't want to acknoweldge that their system has failed because of the incompatible development of the incongruous elements of the whole system. profit which is the alpha and omega of capitalism equals scarcity but given the coercive laws of competitions, they always end up with abundance. The move to financialization back in the 70s was triggered by the dwindling investment venues in productive capital. I think we need to move beyond the dehumanizing pursuit of profit to the next stage in human life. it is a sad commentary that in this economic crisis people don't have enough because there is too much.

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