Greenspan: You Wanted Too Much From Me!
As Alan Greenspan continues on his legacy tour flipping his coin along the road with “Recession” on one side and “Recovery” on the other, apparently he’s also doing some introspective thinking. While there are many who think he layed the groundwork for the current crisis, he contends that its not him, its us.
“If you put the power into the hands of people, very smart people, but if you ask them to do more than is possible I think they will create problems for the system,” said Greenspan, who said in congressional testimony in October that “a flaw” in his free-market ideology contributed to the “once-in-a- century” credit crisis.
Apparently we wanted more than he could give. Hopefully the investors at Pimco aren’t so needy and demanding.