Alan Greenspan continues to claim there was nothing wrong with the scantily regulated derivatives that lie at the heart of the global economic meltdown. It wasn't the securities, he claims, it was the people who were trading in them. It sounds a lot like the NRA at a schoolhouse massacre claiming that guns don't kill people, people kill people.
The New York Times has finally come out with a vivisectionist's examination of Alan Greenspan and what remains of his legacy:
http://www.nytimes.com/2008/10/09/business/economy/09greenspan.html?em
What a sad man. He treats the financial market like it's a religion: it can do no wrong.
ReplyDeleteSomething happened to Alan Greenspan after Clinton left. I've never heard him explain how he came to change so much.
ReplyDeleteI wonder what Ayn Rand would say of Greenspan, her former acolyte.
ReplyDelete