Alan Greenspan teaches youth 'financial literacy'

Alan Greenspan visited a Washington DC middle school yesterday to give the youth of America a lesson in 'financial literacy.' Among other happenings during his trip, he was given the appellation of 'honorary black man.'

Alan Greenspan, the Federal Reserve chairman who is often called the second-most-powerful person in the United States, was made an honorary black man yesterday.

He was also called "a bad brother."

It happened when Mr. Greenspan and J. Alfred Broaddus, president of the Richmond Federal Reserve Bank, visited John Philip Sousa Middle School in Southeast D.C. [...]

Everybody knows Mr. Greenspan is chairman of the Fed, said Mr. Bryant, who is black. "What you don't know is that he's also what we call in my community 'a bad brother.' "
Mr. Bryant called Mr. Broaddus "a cool cat."

Budding Austrian economist, 14-year old Sean Davis, gave Greenspan a grilling the likes of which he had not been victim to since sparring with Representative Ron Paul.

"This is for Mr. Alan Greenspan. The next time you go on TV, are the interest rates going to be high or low?"

Mr. Greenspan waited a beat.

"Yes," he said.

The grownups in the crowd roared.

Later, Mr. Bryant called on Sean again.

"I have another question for Mr. Alan Greenspan. How do you feel about the new tax law?"

"What's the next question?" Mr. Greenspan replied.

More laughter from the grownups.

It appears that lessons were in fact learned by the 25 students in attendance.

At the end of the lesson, Mr. Bryant asked the students what was the most important thing they had learned. Twelve-year-old Shannon Wilkins raised his hand.

"I learned that you can never have too much money."

Whether young Mr. Wilkins is singing the praises of a society based on rational self-interest and competition, or whether he is lauding Greenspan's massive expansion of the money supply is an exercise left to the reader.

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wake up, greenspan. lowered

wake up, greenspan. lowered rates get to amer public only thru mtgs. SET UP a national loan program (like HUD for mtgs) where gov backs loans thru financial institutions & sets criteria (rate, etc). only then will banks & financial institutions be forced by that competition availabe to public to fall in line with their loaning rates - & pass rate on to american people on street. right now banks pocket lower rate profit while not passing on to public. WAKE UP!!!