One of the greatest charlatans of all time, Alan Greenspan, has a new book out.

[rhett o rick]

7. Thank you very much for that. That sure isnt what he is saying in his book.

I havent finished it but it looks like a bullshit smoke screen explaining that it wasnt his fault but that the market changed and no one could have foreseen the coming change. What really happened IMHO is that he and his minions couldnt see the possibility of a crash because they were blinded by capitalistic greed. I am sure Greenspan would tell you that no one foresaw that if you killed the Goose that there would be no more golden eggs.

Again thank you for that article. In the beginning of the article he does admit, as you point out, that his ideology didnt work, but I think he hedges on that statement now, as he states below, "we just cannot see events that far in advance". From the same article. He should clarify that the "we" means people with his ideology. Other economists have predicted the crash.


"The Federal Reserve had as good an economic organization as exists," Greenspan said. "If all those extraordinarily capable people were unable to foresee the development of this critical problem . . . we have to ask ourselves: Why is that? And the answer is that we're not smart enough as people. We just cannot see events that far in advance."