WTF ...44

[pbmus]

""

and we wonder why the 1% have it all ... when the rules of the game are all rigged

[PoliticAverse]

1. Nominated to the Fed by Reagan, George H. W. Bush, Bill Clinton and George W. Bush. n/t

[n2doc]

2. Spoken like a man who hasn't ever faced such insecurity in his life. n/t

[Enthusiast]

3. Way to go, Alan. You fucked up the entire nation.

[pbmus]

4. Frankly NO he did not f up the entire nation ....

he had enormous help by most of our elected officials, greedy corporations and a dim witted electorate who will believe anything so long as it is less than 7 words and monosyllabic ....

[NightWatcher]

5. and my wife reads the nightly news to you and will never mention this

[Uncle Joe]

6. Did Greenspan actually use the word "masters" that just seems too over the top?

Thanks for the thread, pbmus.

[pinboy3niner]

9. No, Chomsky used the word in describing Greenspan's testimony

See #8.

[Uncle Joe]

10. I saw it, thanks for the clarification, pinboy3miner.

[CTyankee]

7. oh, well, it won't affect YOU, after all...so...WTF...

[pinboy3niner]

8. That's not actually a direct quote

It's Noam Chomsky's characterization of Greenspan's congressional testimony:

This idea is sometimes made quite overt. So when Alan Greenspan was testifying before Congress in 1997 on the marvels of the economy he was running, he said straight out that one of the bases for its economic success was imposing what he called “greater worker insecurity.” If workers are more insecure, that’s very “healthy” for the society, because if workers are insecure they won’t ask for wages, they won’t go on strike, they won’t call for benefits; they’ll serve the masters gladly and passively. And that’s optimal for corporations’ economic health. At the time, everyone regarded Greenspan’s comment as very reasonable, judging by the lack of reaction and the great acclaim he enjoyed.

On Academic Labor
by NOAM CHOMSKY
http://www.counterpunch.org/2014/02/28/on-academic-labor/

The transcript of the testimony is here:

Testimony of Chairman Alan Greenspan
The Federal Reserve's semiannual monetary policy report
Before the Committee on Banking, Housing, and Urban Affairs, U.S. Senate
February 26, 1997
http://www.federalreserve.gov/boarddocs/hh/1997/february/testimony.htm

[pbmus]

11. Thank you for your contribution ...nt