Why Is Alan Greenspan’s Lawyer, Scott Alvarez, Still Controlling the Federal Reserve?

“He’s so powerful that he is sometimes called the ‘power behind the throne.'” (NAKED CAPITALISM)


There’s been a sharp focus on Janet Yellen’s Chairmanship role at the Federal Reserve, and rightly so. She’s the first female Chair and she actually cares about inequality. But what is missing from virtually all Fed watching, except for this piece by Jesse Eisinger, is any recognition of how the Alan Greenspan-appointed staff at the Fed still retains substantial control of the institution through the high-level staff who were promoted into their roles by Greenspan.
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Wait, so THAT’S what the bailouts were about?

The prevailing narrative is fundamentally dishonest. (Medium)

One of the reasons that no one went to jail for the elite control fraud that caused the financial crisis is because of the pervasiveness of the criminality. You couldn’t send one guy to jail without having that guy very publicly rat out everyone else. To get to a high level on Wall Street you had to be dirty, like in a corrupt police department. No one trusts the one guy who won’t take bribes. Which brings us to Maurice “Hank” Greenberg, the former AIG CEO who is now, for lack of a better word, ratting everyone else out.
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