Greenspan: 'There’s no question that this is in the process of outstripping anything I’ve seen'

[Bluebear]

"Category 4 hurricane heads for Wall Street"

Alan Greenspan sounds downright grim:

“First of all, let’s recognize that this is a once-in-a-half-century, probably once-in-a-century type of event…,” Greenspan says. “There’s no question that this is in the process of outstripping anything I’ve seen, and it still is not resolved and it still has a way to go.

“I can’t believe we could have a once-in-a-century type of financial crisis without a significant impact on the real economy globally, and I think that indeed is what is in the process of occurring,” Greenspan said.

http://www.ajc.com/blogs/content/shared-blogs/ajc/bookman/entries/2008/09/14/cat_4_hurricane_heads_for_wall.html

[nadinbrzezinski]

1. It is not a good day... but it will be a day you'll be able to tell the kiddies about

Oh and greenspan was part of the problem... it is the deregulation that he pushed for

He is seeing his pet political theories come home to roost

[Bluebear]

3. Oh you said a mouthful in re: his culpability

[nadinbrzezinski]

4. Well, as long as we don't get Chicago School flat earhers trying to fix this

....

If they do, we are truly fucked

Chile in the first two years of Pinochet come to mind

On the really tin foil hat time...

EO 51 comes to mind

[Frances]

5. I agree that Greenspan

is partly responsible.

Deregulation didn't work before the Great Depression. Reagan and the Bush father and son undid all the good work of FDR and see where it got us.

Plus Greenspan was wrong when he said that W's tax cuts for the rich were OK.

[Kitty Herder]

6. It irritates the hell outta me that Greenspan acts like he's completely innocent in all this.

He helped create the conditions that spawned this mess.

[Neshanic]

2. "process of outstripping" Greenspanese for sex with his harpy wife.