GoFuckYourself.com - Adult Webmaster Forum - View Single Post - "I still do not understand exactly how it happened," said Greenspan.

Tom_PM · 10-23-2008, 09:01 AM

He believed that the instinct of financial institutions to preserve their own lives might prevent them from slow suicide. Can't really fault that thinking. But it turned out to be naive.

IMHO he gave other people too much credit for having the raw brain matter capable of preserving itself.

And people in the institutions who knew FULL WELL that investment vehicles based on these horrible loan structures continued to give investors the "good as gold" advice. Raking in money knowing they were investing in crap. "good as gold"? Fools.

You cant fault Greenspan for that.

10-23-2008, 09:01 AM
Tom_PM Porn Meister Industry Role: Join Date: Feb 2005 Posts: 16,443	He believed that the instinct of financial institutions to preserve their own lives might prevent them from slow suicide. Can't really fault that thinking. But it turned out to be naive. IMHO he gave other people too much credit for having the raw brain matter capable of preserving itself. And people in the institutions who knew FULL WELL that investment vehicles based on these horrible loan structures continued to give investors the "good as gold" advice. Raking in money knowing they were investing in crap. "good as gold"? Fools. You cant fault Greenspan for that. __________________ 43-922-863 Shut up and play your guitar. Last edited by Tom_PM; 10-23-2008 at 09:03 AM..