Monday, September 17, 2007

As Liberals Chortle, Greenspan Turns Tables

Today the left-wing websites and blogs have been going crazy with news that Alan Greenspan, former chairman of the Federal Reserve System, in a book just published, blamed the Iraq War on a quest for oil. These blogs and sites have been filled with comments from liberals basically saying, “Ah hah, we knew it all along”.

Unfortunately for them, Greenspan has learned of this development and decided to clarify his views, which he said were misstated and misrepresented. Instead of criticizing President Bush, what Greenspan really said was that Saddam had to be removed before he endangered all the world’s economies by renewed attempts to take over middle east oil fields.

Greenspan: Ouster Of Hussein Crucial For Oil Security
By Bob Woodward
Washington Post Staff Writer
Monday, September 17, 2007; A03 (Excerpt)

“Alan Greenspan, the former Federal Reserve chairman, said in an interview that the removal of Saddam Hussein had been "essential" to secure world oil supplies, a point he emphasized to the White House in private conversations before the 2003 invasion of Iraq.

Greenspan, who was the country's top voice on monetary policy at the time Bush decided to go to war in Iraq, has refrained from extensive public comment on it until now, but he made the striking comment in a new memoir out today that "the Iraq War is largely about oil." In the interview, he clarified that sentence in his 531-page book, saying that while securing global oil supplies was "not the administration's motive," he had presented the White House with the case for why removing Hussein was important for the global economy.

"I was not saying that that's the administration's motive," Greenspan said in an interview Saturday, "I'm just saying that if somebody asked me, 'Are we fortunate in taking out Saddam?' I would say it was essential."

He said that in his discussions with President Bush and Vice President Cheney, "I have never heard them basically say, 'We've got to protect the oil supplies of the world,' but that would have been my motive." Greenspan said that he made his economic argument to White House officials and that one lower-level official, whom he declined to identify, told him, "Well, unfortunately, we can't talk about oil."

Asked if he had made his point to Cheney specifically, Greenspan said yes, then added, "I talked to everybody about that."

Greenspan said he had backed Hussein's ouster, either through war or covert action. "I wasn't arguing for war per se," he said. But "to take [Hussein] out, in my judgment, it was something important for the West to do and essential, but I never saw Plan B" -- an alternative to war.” Washington Post

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At 3:36 AM, Anonymous Anonymous said...

I'm glad that Greenspan fessed up. The Liberals thought they were going to take the ball and run with it. Of course, Greenspan has to throw a little jab at the Bush Administration for not having an alternative plan for war, but he forgets that back before 2000 when Clinton was in office, Greenspan raised the rates and caused the economy to go further South than it was going, and that President Bush strengthened the economy with the tax cuts that he put in place after he took office. Even Bill O'Reilly of the O'Reilly Factor, tried to warn Greenspan back then.


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