Sunday, September 21, 2008

The world is rightly blaming Greenspan for mess

Former Federal Reserve Chairman Alan Greenspan has been feted as genius on talk shows and in the halls of power since he stepped down from his job earlier this decade.

He is married to NBC News' Andrea Mitchell, so that has made him a darling of the news media, too. A week ago, he said the United States was facing the greatest financial crisis in a century. He should know. He helped make it, as author Kevin Phillips last Friday on Bill Moyers' PBS show.

The Financial Times today elaborates on that point. And the newspaper makes enough of a case that Greenspan should feel obligated to make an apology to the American people.

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