Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMeet Romney's Economic Hitman
http://www.alternet.org/election-2012/meet-romneys-economic-hitman?paging=offMeet Romney's Economic Hitman
Truthdig / By Robert Scheer
October 19, 2012 |
Mark the name of R. Glenn Hubbard, the man who will make your life miserable if Mitt Romney is elected president. Unless, that is, you happen to be one of the swindlers who has profited mightily from the nations economic pain.
Hubbard is the ideological hit man instrumental in justifying the mortgage derivatives bubble that caused the Great Recession during the George W. Bush years. He now serves as Romneys key economic adviser and is the front-runner to be the next Treasury secretary should the Republican win.
Romneys Go-To Economist read the headline on a New York Timesprofile of the dean of Columbia Universitys Business School, which notes that During a stint as chairman of the Council of Economic Advisers for President George W. Bush, from 2001 to 2003, Mr. Hubbard was known as the principal architect of the Bush tax cuts. In that capacity, and after returning to Columbia, Hubbard was also the chief cheerleader for a runaway derivatives market that spiraled out of control and left the Great Recession in its wake.
While pocketing millions in fees from the financial industry that he was ostensibly studying as a neutral academic, Hubbard was an enthusiastic backer of the virtues of a burgeoning unregulated capital market that sold toxic derivatives to the world. In a landmark paper that he co-wrote in November 2004 with William C. Dudley, at the time the chief U.S. economist at Goldman Sachs, it was asserted, The capital markets have helped facilitate a major transformation of the U.S. mortgage financing system over the past 25 years. The result has been a dramatic decline in the cyclical volatility of housing activity.
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
4 replies, 1640 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (2)
ReplyReply to this post
4 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
Meet Romney's Economic Hitman (Original Post)
unhappycamper
Oct 2012
OP
aletier_v
(1,773 posts)1. R. Glen Hubbard?!
is he related to L. Ron Hubbard?!
Berlum
(7,044 posts)2. "Spawn of a feather are auditing together" L. Rawn Hubbard (R - Wanker)
"Scientology is the study of knowingness. It increases one's knowingness, but if a man were totally aware of what was going on around him, he would find it relatively simple to handle any outnesses in that." - L Ron (R)
unhappycamper
(60,364 posts)3. Don't think so.. According to wikipedia:
R. Glen - "Born September 4, 1958, Hubbard was raised in Apopka, Florida, a suburb of Orlando, Florida."
L. Ron - "Lafayette Ronald Hubbard was born in 1911, in Tilden, Nebraska.."
JHB
(37,161 posts)4. About as much as to the lady who lived in a shoe
Hubbard isn't that rare a name.