Alisa Rosenberg was a narcissistic twit. Better known as Ayn Rand, she espoused a cotton headed belief called, aw, hell, who cares what it was called. She was a selfish bitch.
Alan Greenspan was one of her acolytes. He used to hang around her apartment in New York City. He was at her funeral in 1982 which featured a 6 foot floral arrangement in the shape of a dollar sign.
Greenspan takedown at TPM:
Let’s set the stage. Bear Stearns, Goldman Sachs, Citigroup and the rest of the big banks are run by hotshot Ivy League business school types. These are bright, hard working ambitious people who want to make lots and lots of money.
The executives at these banks are sitting on enormous piles of money that they can get access to as a result of being at these huge banks. The hotshot executives know that they can get huge bonuses by taking risky gambles with the banks’ money.
The executives can make bets, that if they pay off, will get them tens of millions a year in bonuses and other compensation. Of course, if they lose they can bring down the house, meaning that they bankrupt Bear Stearns, Lehman, etc.
What would Ayn Rand expect to happen? On the one hand we have the hot shot executives, on the other hand the schmucks who own stock in these banks. Would Ayn Rand expect that the executives would put aside their ambition, their lust for success, their greed, in order to benefit shareholders who are too dumb to even know what a credit default swap is?
Not for a second; Ayn Rand would watch the Wall Street big boys run roughshod over their shareholders’ interests and be applauding them every step of the way. That is how the game is played. If Greenspan didn’t think the Wall Street crew would rip off their shareholders for every last penny, then he was not a worthy disciple of Ayn Rand.
Ayn Rand should be reserved for pimple-faced boys who have a hard time talking to girls and think that life is miserable. That way, they can go off and be miserable with each other without destroying the rest of the world.