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History will be the judge
Friday, March 06, 2009
After finally getting around to finishing up the second half of CNBC's House of Cards, it came as something of a surprise to see how much airtime the former Fed chairman got.
Also during the program, he made the point (slightly altered here for your enjoyment) that none of the 100+ PhD economists at the Federal Reserve were able to see the iceberg before they slammed into it, so it's understandable that the captain with his hand on the rudder wouldn't see it either. I wonder how many of the staff have read this:
4 comments:
i do not think history will be kind to this weasel
Denial is not a River in Egypt, it is Greenspan's view of his record with banking. First Lincoln Savings and Loan and now the Great Housing Bubble. History will put Greenspan in his place.
What bullshit. Greenspan blames an imaginary depression for his having no choice but to create a real one.
Translation: 'It was get hung now or get hung later. I chose later and now later is here.'
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