I do not know of the world but his interest rate cut spree fed the current credit crisis that US Banks have. He totally ignored the perils of too much cheap money supply, did not pay attention to the exotic derivative products, exorbitant leverage done by Banks.(although I am not sure whether only greenspan is to blame but then SEC is a toothless tiger anyway). So he never sneezed but USA does have a financial pneumonia now.
RE:When greenspan sneezed the world caught cold.
by siva on Aug 25, 2008 07:39 PM Permalink
Yes. He is very short sited - and ignorant of the long term effects of his decisions.
