For blaming the free market and not his easy money for the recession here.
John Stossel appropriately scolds the
former Federal Reserve Chairman for blaming the financial crisis on the
free market. I?ll go one step farther and say that Greenspan?s behavior
is a reprehensible example of someone lacking the cojones to take
responsibility for his mistakes. Greenspan is surely not responsible
for the corrupt system of subsidies from the government-created
nightmares known as Fannie Mae and Freddie Mac, but he definitely
deserves the lion?s share of the blame for the Fed?s easy-money policy
of artificially-low interest rates. Greenspan presumably knows he
screwed up, which makes his attack on free markets especially
despicable. The icing on the cake is that he?s also sucking up to the
political establishment by endorsing higher taxes. Hasn?t he already
done enough damage?
