Edsall Slams Greenspan

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Going after Alan Greenspan, the former Federal Reserve chairman, these days is like shooting dead fish in a drained-out bathtub. But Thomas Edsall spanks the onetime Oracle something awful in HuffPo. The piece opens:

On June 10, 1999, at the height of his power, Alan Greenspan told members of Harvard’s graduating class how, in the future, they should assess their lives: “The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake.”

As Edsall goes on to detail, there’s now plenty of bloody mess in Greenspan’s wake. He notes that Greenspan had a hand in most of the major regulatory actions (or, put more accurately, non-actions) that led to the current collapse of capitalism as we (and he) know it. These days, the former acolyte of Ayn Rand is advocating the “temporary” nationalization” of “lemon banks” to “facilitate a swift and orderly restructuring.” From free-market laissez-faire to corporate socialism, what a long, strange trip it’s been. Too bad he took the rest of us on it.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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