Sunday, October 12, 2008

Alan Greenspan, Hero or Villain?

One of the reasons for the seriousness of our financial crisis is the long tenure of Alan Greenspan as the Federal Reserve Chairman. His willingness to allow the easy credit that drove the housing bubble, plus his unwillingness to allow for regulation of 'derivatives' are two of the reasons we are in the mess we're in. See this article in the NYT.

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