Sunday, October 26, 2008

Greenspan Has a Breakthrough

Former master of the universe and devil's advocate, Alan Greenspan, has had an epiphany (or appropriately extreme guilt attack). He's 'realised' that his assumption that banks would have the best interests of their stockholders at heart was wrong.

"Greenspan called this "a flaw in the model that I perceived is the critical functioning structure that defines how the world works"."

After 20 years of controlling the purse strings, and taking as large a hand as any other individual in shaping and enabling what the banks would or wouldn't have at heart, it kinda feels like a grade A line of bullshit.

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