[Marxism] At the Pinnacle of Capitalism, Now Bad Deed Goes Unrewarded

michael perelman michael at ecst.csuchico.edu
Sat Nov 14 20:29:22 MST 2009

This is rich.  John Paulson who made billions betting against the 
subprime mortgages is now rewarding Alan Greenspan, who did so much to 
make it happen.

Anon. 2009. "Overheard." Wall Street Journal (13 November): p. C 14.

"John Paulson already has hired Alan Greenspan as an adviser. Now the 
hedge-fund honcho is giving $20 million to business school NYU Stern to 
endow two faculty chairs, including the Alan Greenspan Chair in 
Economics.  Mr. Paulson, who made billions betting against subprime 
mortgages when the credit bubble burst, and the former Fed chairman are 
NYU graduates.  One subject worth studying?  The dangers inherent in 
keeping interest rates too low for too long."

Michael Perelman
Economics Department
California State University
Chico, CA

530 898 5321
fax 530 898 5901

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