Greenspan’s latest epiphany

Our Future Blog
by Isaiah J. Poole

10/16/09

Mr. Big Stuff himself, as he used to be called on CNBC during his heyday, has spoken once again. But this time, Alan Greenspan has uttered an inconvenient truth. So, will Washington and Wall Street listen? The former Federal Reserve chairman’s statement Thursday before the Council of Foreign Relations in New York about today’s megabanks (’if they’re too big to fail, they’re too big’) is so self-evident a fifth-grader would get it. But the adults who are formulating economic policy at the Treasury Department and on Capitol Hill have treated that simple statement as heresy. … Neither has there been much of a ripple in the financial press over Greenspan’s comments...

//tinyurl.com/yk2pkd7


Informant: Thomas L. Knapp



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