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Ranchers.net

Greenspan Admits Iraq was About Oil, As Deaths Put at 1.2 Million
by Peter Beaumont and Joanna Walters in New York

The man once regarded as the world’s most powerful banker has bluntly declared that the Iraq war was ‘largely’ about oil.

Alan GreenspanAppointed by Ronald Reagan in 1987 and retired last year after serving four presidents, Alan Greenspan has been the leading Republican economist for a generation and his utterings instantly moved world markets.

In his long-awaited memoir — out tomorrow in the US — Greenspan, 81, who served as chairman of the US Federal Reserve for almost two decades, writes: ‘I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.’

In The Age of Turbulence: Adventures in a New World, published September 17, 2007, Greenspan rails against President George W. Bush, Vice President Dick Cheney, and the Republican-controlled Congress for abandoning the Republican Party's principles on spending and deficits. Greenspan's criticisms of President Bush include his refusal to veto spending bills, sending the country into increasingly deep deficits, and for putting political imperatives ahead of sound economic policies. Greenspan writes, "They swapped principle for power. They ended up with neither. They deserved to lose” the 2006 election
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