Under Greenspan's watch

A link to this video was posted here yesterday and it's worth another look. It's blurry, and that kind of looks like Christopher Dodd of Connecticut but I don't think that's who it is.

Don't know who that first guy is either testifying about "risk layering" - he sounds pretty flummoxed. This must have been from the hearings earlier this year.

It's going to be difficult to change the name of this blog just when everyone else is realizing what seemed crystal clear to some of us back in 2004.

I'm amazed, sitting here listening to all of our colleagues on the committee and forgetting who used to come here before this committee and brag about the housing market carrying the economy. None other than our former Chairman of the Federal Reserve Alan Greenspan.

He was in charge of bank regulation at the time when all these sophisticated mortgages came into being. And I didn't hear him say a word about these when he was here. And now I hear him criticizing everybody that's in the business of lending.

What are the odds that Greenspan gets called in to testify again before Congress?

Wouldn't that be fun?