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Non-Tech : Greenspan, Rubin & Co - the Most Irresponsible Team Ever??
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To: Cynic 2005 who wrote (282)1/4/2001 12:56:33 AM
From: Thomas M.  Read Replies (3) of 309
 
siliconinvestor.com

From the book "Inside Job," written by Steven Pizzo, about an encounter in 1984 between Greenspan and Ed Gray, who was the Federal Home Loan Bank board chairman:

"Gray received a letter from respected economist Alan Greenspan telling him he should stop worrying so much. Greenspan wrote that deregulation was working just as planned, and he named 17 thrifts that had reported record profits and were prospering under the new rules. Greenspan wrote the letter while he was a paid consultant for Lincoln Savings & Loan of Irvine, CA, owned by a Charles Keating, Jr., company. Four years after Greenspan wrote the letter to Gray, 15 of the 17 thrifts he'd cited would be out of business and would cost the FSLIC $3 billion in losses."
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