Recession culprits? Start with Alan Greenspan and Jean-Claude Trichet

The US Federal Reserve and European Central Bank heads played large roles in the crisis, yet they collect public pensions. The 2008 financial was 'avoidable', says the report of the US Financial Crisis Inquiry Commission.  The economies of the United States and Europe are seeing their worst downturn since the Great Depression. Tens of millions of people are unemployed or underemployed. This has led to millions losing their homes, their access to health care, and, in some cases, their lives.

Remarkably, the two individuals who bear the greatest responsibility for this disaster, former Federal Reserve Board chairman Alan Greenspan former president of the European Central Bank Jean-Claude Trichet, do not appear to be suffering at all for their failure. Both are living comfortably and continue to be sought out for their expertise on economic policy. This should infuriate reasonable people everywhere.

Get yourself good and infuriated by reading the rest of progressive US economist Dean Baker’s excellent Guardian piece