Wednesday, April 09, 2008

Mr. Bubble

Reality is catching up to old Alan. LATimes (04.09.08):
"Alan Greenspan retired in January 2006 as one of history's most lauded Federal Reserve Board chairmen, the subject of accolades that stopped just short of deification.

But just as markets have a way of overshooting both on the way up and on the way down, the needle on Greenspan's Fed tenure has swung from adulation to denunciation in a matter of months.

Fed maestro hearing sour notes

"With the economy now sputtering, Greenspan has increasingly been tagged as 'Mr. Bubble' -- the ideologue whose loose-money policies and lax regulation are blamed for the continuing real estate collapse, the near-meltdown of the mortgage industry and the toppling of some Wall Street giants."

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