So former Fed chairman Alan Greenspan has come out saying that this financial crisis is "by far" the worst in history. But whose fault is that?
The so-called financial genius who plunged the world into recession was Greenspan himself, according to a poll of mostly economists. It's called the Dynamite Prize in Economics.
For once, the economists are absolutely right. Greenspan, as we know, was responsible for creating an unsustainable bubble by flooding the market with cheap money. The second figure to blame was neo-conservative champion of free markets Milton Friedman and the third was Larry Summers, the former US Treasury secretary who repealed the Glass-Steagall Act, which had been put in place during the Great Depression to protect the public. Summers helped turn US banks into casinos. The worry is that he is now Obama's chief economics adviser.
Greenspan has some nerve to even make pronouncements on the economy. It may explain why portraits of Greenspan, which once sold for thousands of dollars, are now being contemplated for use as dart boards.
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