The Daily Bail
Stop! Watch this. From the FED celebration at Jekyll Island over the weekend. Bernanke looks uncomfortable as Greenspan admits the truth. Runs 50 seconds.
Greenspan, Bernanke and former NY Fed president, Gerald Corrigan - Nov. 6
Let's make this one go viral...
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By Dr. Pitchfork
Alan Greenspan made a stunning admission this Saturday at the Fed's shindig on Jekyll Island. Sitting on a panel with Ben Bernanke and former NY Fed president, Gerald Corrigan, Greenspan says that many of the actions which led to the financial crisis were "certainly illegal," "clearly criminal" and amount to outright "fraud." You'll notice in the clip that Bernanke was pretty clearly unsettled by Greenspan's remarks. That's because Greenspan just admitted what many of us have been saying for years -- that crimes were committed in the financial system and that no one has been held responsible. No one. Not a single indictment from Eric Holder and Team Obama. And all of this has happened under the nose of the current Fed chairman, Ben Bernanke. That would be the same Ben Bernanke who takes credit for bailing out the people who committed those "illegal," "criminal" acts of "fraud."
Highlights:
- "We need...to get far higher levels of enforcement of fraud statutes. Existing ones. I'm not even talking about new ones."
- "Things were being done which were certainly illegal and clearly criminal in certain cases."
- "If you cannot trust your counterparties, it won't work."
