Former Fed chairman Greenspan was grilled in Washington a few days ago and admitted that he “doesn’t fully understand why it happened” in regards to the credit crisis.
Hmm, after 19 years at the helm of the Fed, you better know why things are happening, in my opinion, especially if you were part of the cause. Take a look at this video:
I’ll be leaving Germany in a few hours and will be back at my office in Southern California by Wednesday carrying the usual jet lag with me. Because of the way my return flights are scheduled, I may not me able to post for a day or two. I hope to catch up quickly.