He Should Know

February 17th, 2009

Did you feel the earth tilt on it’s axis yesterday? If not, you were not paying attention when Alan Greenspan was talking.

Former U.S. Federal Reserve Chairman Alan Greenspan said on Tuesday the current global recession will “surely be the longest and deepest” since the 1930s and more government rescue funds are needed to stabilize the U.S. financial system.

“To stabilize the American banking system and restore normal lending, additional TARP funds will be required,” Greenspan said in a speech to the Economic Club of New York. The U.S. Treasury’s Troubled Asset Relief Program designed to help bail out banks has been partially successful, he said.

If he said it, you know it’s true. He’s Alan “I got your stupid asses into this mess” Greenspan. If anyone knows, it’s him.

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