PeakOiler

Greenspan Yet Again Blames Others for Housing Bubble

Greenspan does everything possible to avoid responsibility for the debacle. But he forgets that he actually said earlier:


"The solutions for the financial-market failures revealed by the crisis are higher capital requirements and a wider prosecution of fraud -- not increased micromanagement by government entities."

Trouble is, he alone, as Fed head, had responsibility for setting higher capital requirements, and for ferreting out fraud. And he failed to act even though he recognized the problem.

Sir Alan will never admit it, but he's become a joke. Perhaps the Queen should rescind his knighthood, then he may understand his role in the world's financial collapse.