....Alan Greenspan, the former Federal Reserve Chairman. Greenspan says the world is facing “the type of wrenching financial crisis that comes along only once in a century,” but, reports the New York Times, "his faith in derivatives remains unshaken." Greenspan believes that the problem is not with derivatives, but that the people using them got greedy, according to the Times.
This is quite a view. Is it a surprise to Alan Greenspan that the people on Wall Street -- said to be ruled only by the opposing instincts of greed and fear -- "got greedy?"
by Ralph Nader in a recent CounterPunch article.