This weekend, as our frozen credit markets and subprime space aliens took investment bank Bear Stearns -- the fifth largest in the country -- down, down, down into the ground, former Federal Reserve chairman Alan Greenspan wrote an article that saved the American economy. Hurrah! Regarding the moral hazard of huge companies taking inappropriate risks because the Fed will rescue their broke asses when it hits the fan ("they're too big to fall!"), kindly old hobbit-sage Alan Greenspan offers these soothing words: who knew!?
Alan Greenspan: Craaaazy Economy, No?
Alan Greenspan: Craaaazy Economy, No?
Alan Greenspan: Craaaazy Economy, No?
This weekend, as our frozen credit markets and subprime space aliens took investment bank Bear Stearns -- the fifth largest in the country -- down, down, down into the ground, former Federal Reserve chairman Alan Greenspan wrote an article that saved the American economy. Hurrah! Regarding the moral hazard of huge companies taking inappropriate risks because the Fed will rescue their broke asses when it hits the fan ("they're too big to fall!"), kindly old hobbit-sage Alan Greenspan offers these soothing words: who knew!?