"In other words," said Waxman, moving in for the kill, "you found that your view of the world, your ideology, was not right, it was not working." "Absolutely, precisely," said Greenspan. "You know, that's precisely the reason I was shocked, because I have been going for 40 years or more with very considerable evidence that it was working exceptionally well." It's one thing to reject a failed ideology, but another altogether to embrace the kind of regulation represented by the CFPA. "He has already said that he erred in assuming that the market would take care of things--the Ayn Rand point of view--but this seems to go farther than he's gone before in calling for a new agency to protect consumers from financial products," said Miller. http://www.huffingtonpost.com/2009/09/28/greenspan-backs-key-obama_n_302018.html
that is the most interesting post - you have ever posted. I had been operating under the assumption that greenspan was a con man paid by the banks to screw up america. But recently - he has being trying to spin. The new message is now complete. He would rather the world see him as a misguided fool than a crook. One way or the other this asshole allowed member banks to loosen credited during the biggest asset bubble in history. ( While it sure looks liked he planned the disaster - I guess he is looking for an out.) Crook or moron.... I guess he prefers moron.
There is a (small) part of the gold bug community that believes Greenspan has set the stage for a Dollar crash to give the monetary policy back to the people out of the bankers hands. Pretty controversial ofcourse but Greenie was quite the gold bug back in the day.