Greenspan, Rubin & Co - the Most Irresponsible Team Ever?? Message Board

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Non-Tech : Greenspan, Rubin & Co - the Most Irresponsible Team Ever??

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To: Cynic 2005 who wrote (255)	2/22/2000 3:15:00 PM
From: Thomas M.	Read Replies (1) of 309

From Edward Chancellor's Devil Take the Hindmost: <<< Keating hired the economist Alan Greenspan, later Chairman of the Federal Reserve, to support Lincoln's application to increase its "direct investments" to more than 10% of assets. (In a letter he must have come to regret deeply, Greenspan wrote to the California bank regulator that management of Lincoln and American Continental was "seasoned and expert ... [with] a long and continuous track record of outstanding success in making sound and profitable direct investments.") >>> <<< In another letter ... Greenspan claimed that Keating's management had turned Lincoln into "a financially strong institution" which would not pose any risk of loss to the federal insurer "for the forseeable future." Greenspan was paid $40,000 for writing the two letters and testifying on Keating's behalf. >>>

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