ATHELSTAN

Greenspan: Still Almost Childlike in His Idealism

There is nothing "child like" about the fees Allan Greenspan charges to groups to deliver his apologias for years of neglect at the Fed. The media obsession with this man is the equivalent of guru worship.
All for a man who continued to bend over backwards to encourage home ownership during his years at the Fed, and did anything but "regulate" banks and the financial structure for providing housing credit.

The American people have every right to be angry and should be deeply concerned for the future. It is no longer a matter of housing prices and when those prices improve, or when the supply of homes starts declining. It is now a question of how severe will the national ,systemic loss of family wealth be. Will it be in drips and drabs? The slow movement from affluence to poverty over time. Or will it come very suddenly with a 5000 point drop on the Dow? Something on the scale of October 1929.
I have no confidence anyone in Washington, Wall Street, or Main Street has a clue of what lies out there and how to come to grips with it.
A year from now, we may be witnessing a total social meltdown plunging the nation into civil war and anarchy.