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March 25, 2012
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The Tab? by poasterchild The Tab? by poasterchild
Robert Rubin (l), Alan Greenspan (c), and Larry Summers (r) have deep and long ties to Citibank and to the highest levels of government. Rubin was chairman of Citigroup and a former Treasury secretary who pushed through many of the deregulatory schemes that made the 2008 to present Great Recession possible. Greenspan, the long-standing chairman of the Federal Reserve, created the money supply which fueled the housing bubble, this in response to the collapse of the tech bubble. Summers, also a former Treasury Secretary, pushed for the repeal of Glass Steagall, and other deregulatory measures including a hands-off policy toward the collateralized debt obligations (CDOs), which were at the heart of the 2008 financial meltdown. Summers has a long and checkered association with Citi, incluing accepting a free ride home on the Citi corporate jet from the Democratic Convention in 2008 and $99,000 for giving two speeches to Citi executives in 2008, shortly before he assumed regulatory oversight of Citi as an official in the Obama administration.
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:iconsoyentgreen:
SoyentGreen Featured By Owner Mar 27, 2012
Refreshing to see Greenspan and recession mentioned in the same sentence.
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:iconpoasterchild:
poasterchild Featured By Owner Mar 27, 2012  Hobbyist Artist
alan luvz dem bubblez...u gotza have bubblez from which to recess!
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:icondravazed:
Dravazed Featured By Owner Mar 25, 2012
Tweeted this. Thanks.
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:iconpoasterchild:
poasterchild Featured By Owner Mar 25, 2012  Hobbyist Artist
merci
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