According to an article by Mark Falsenthal, former Federal Reserve Chairman Alan Greenspan is in disbelief over the state of the country's credit market. That has to be the most cynical thing I've heard in weeks considering Greenspan's policies directly led to the financial mess we are in.
During his tenure as Chariman of the Federal Reserve, Greenspan was widely considered a genius. And in a way he was, but not for the right reasons. As Chairman, Greenspan purposely kept interest rates low, which led to the housing bubble, and overall crisis we are in now.
I commend Falsenthal for writing this story. Though he doesn't directly accuse Greenspan of anything, he certainly points out what his policies were as Chairman of the Federal Reserve and puts them in perspective. Which is good because for far too long, people have praised Greenspan's every move.
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