FUCK YOU, ALAN GREENSPAN

(h/t Atrios)

The arrogance of our financial overlords is sometimes astounding. This is a real example of what the wingers describe as the arrogance of the elites.

Greenspan Wanted Housing-Bubble Dissent Kept Secret
by Ryan Grim
First Posted: 05- 3-10 11:30 AM | Updated: 05- 3-10 01:34 PM

As top Federal Reserve officials debated whether there was a housing bubble and what to do about it, then-Chairman Alan Greenspan argued that the dissent should be kept secret so that the Fed wouldn't lose control of the debate to people less well-informed than themselves.

"We run the risk, by laying out the pros and cons of a particular argument, of inducing people to join in on the debate, and in this regard it is possible to lose control of a process that only we fully understand," Greenspan said, according to the transcripts of a March 2004 meeting.