Meet Romney's Economic Hitman

[unhappycamper]

http://www.alternet.org/election-2012/meet-romneys-economic-hitman?paging=off




Meet 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 nation’s 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 Romney’s key economic adviser and is the front-runner to be the next Treasury secretary should the Republican win.

“Romney’s Go-To Economist” read the headline on a New York Timesprofile of the dean of Columbia University’s 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.”

[aletier_v]

1. R. Glen Hubbard?!

is he related to L. Ron Hubbard?!

[Berlum]

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]

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]

4. About as much as to the lady who lived in a shoe

Hubbard isn't that rare a name.