"One of the focal persons, of course, is Alan Greenspan, the former chairman of the Federal Reserve. He maintained in several interviews that he
did not see this (the financial crisis) coming" says H. L. (Buster) Quist, author of
"The Aftermath of Greed: Get Ready For The Coming Inflationary Boom", on the recent bail out of the financial sector.
Buster Quist explains what a Derivative is and how, with leveraging, they changed the face of finance.
"Congress wanted to investigate and regulate the use of derivatives and the number one front man to go to Congress and insist the Government not
regulate the use of derivatives was Alan Greenspan", Mr. Quist says in this interview with The Above Politics Show.
ABOVE POLITICS Number 51, with Martin Bain and Homer Fife, from AboveTopSecret.com.
Show length is 45:02.
Direct link to show MP3 file: atsmix_3201.mp3 (16 mb)
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ABOVE POLITICS is the alternative political program from AboveTopSecret.com, all content is copyright (2009) by AboveTopSecret.com and The Above
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International Reporters wanted for The Above Politics Show thread
The Above Politics Show Web Site
[edit on 2/1/2009 by Dave Rabbit]
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Excellent. Look forward to hearing the show. 
2nd line goes here.
Cheers!!!!
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I also can't wait to listen to it. I hope it's not all doom and gloomy stuff.
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Martin:
What a fantastic interview. The best explanation I have ever heard on the global financial crisis. Thank you.
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What a great interview and to hear someone explain some of the reasoning behind the bail out of the banks and what they did to bring this about.
And if I heard Mr Quist right, he put the blame for the US Government not seeing this coming clearing on Alan Greenspan. Now if Homer and MArtin
could get Alan Greenspan as a guest to rebutt what Mr Quist says, that would be something.
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I also agree. That was a good interview.
I do hope that the problems with the economy aren't as bad as the guest you featured said was.
I also can't begin to understand why any one person like Obama would be considered the messiah or a key to economic recovery. I guess since he
inspires people the masses are more likely to feel more wanting to chip in.
Are we on the road to socialization?
I hope not.
I hope it's only temporary.
I also hope that this isn't the end of the "bear market". I hope many things. But I hope reality doesn't prove me wrong!
Great show, I felt it was really informative as to how deep the problem we face is.
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I disagree with one key thing though.
I think it is wrong to blame this economic mess on capitalism.
Capitalism isn't what caused it.
There were other governments-- socialist governments even who collapsed under this global economic collapse.
Sure you could blame it on us, but, I don't believe that's all that happened.
It was because of all the credit expansion which lead to the boom cycle we just had and then the bust cycle which is where we are right now.
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