ALERT: Major Distortion of Financial Crisis About to be Launched

10-16-2009 • Economic Policy Journal

Greenspan, at the time, was the head of the Federal Reserve, which is responsible through monetary manipulations for the distortions that do cause the business cycle. Rubin is a former Goldman Sachs CEO, who like all Goldman players used his government position to benefit Goldman and other elite insider banks. He left his position as Treasury Secretary to become a senior adviser to Citigroup (Many believe he was awarded the Citi position for his directing, while Treasury Secretary, regulations in a way that would significantly benefit Citi). Summers is now lead economic adviser to President Obama and sings the praises of the administration's interventions in the economy, from the intervention of shoveling money in the banking and auto sector to federal control of healthcare.

If these people can be considered free market advocates, well then just consider me President Obama's birth mother.

But Frontline sets up the absurdity of these three as free market advocates so they can attack free markets and trot out their heroine, Brooksley Born. Born, a friend of Hillary Clinton was named a member of the Commodity Futures Trading Commission, in the Clinton Administration. The CFTC during Born's era buried the major illegal trading that resulted in Hillary Clinton trading $6,300 into $100,000.In short, Born was just the political operative that the Clintons needed at the CFTC. She got the job done, ah, make that got the job buried.

Now, she is being trotted out