Greenspan has a paper on “The Crisis,” an attempt, in my view, to try to re-frame the conversation on the collapse of the financial markets so as to avoid any thought of responsibility, including his. Greenspan’s main purpose, I am convinced, is to (a) defend the status quo he helped create, and (b) make sure his reputation and future income are protected. The man has no shame.
James K. Galbraith seems to agree – Galbraith – Oh, please
Galbraith points out words like “fraud” and “blame” are hard to find in Greenspan’s paper. I would note, parenthetically, his enthusiasm for a low-wage workforce (see page 4).
UPDATE – Krugman weighs in: Krugman – Greenspan still no mensch