Monday, October 13, 2008

Returns to the scene of the crime

Gordon Brown, asked about his past adulation of Alan Greenspan in the context of having to clean up a huge mess which was simmering during Greenspan's tenure --

If I may say so, Alan Greenspan was the first to recommend in the United States the Resolution Trust Corporation that has been taken up by all parties in the United States of America, he has actually led the way in proposing a solution to this problem.

Thus he never addresses the issue of Greenspan as a cause of the problem, and credits Greenspan with the obvious and widely shared idea of a taxpayer-financed cleanup -- an idea that Greenspan only came up so that his reissued book wouldn't sound so irrelevant. And who says he is shocked, shocked, that Wall Street lacked honesty and integrity.

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