More than a mere mistake.....

A mistake Mr. Greenspan? There are no words to describe your cowardliness.

Alan Greenspan's "mea culpa" on Capital Hill today was far more than the admission of a "mistake". It was a vain attempt to protect his legacy and an outright repudiation of the so called "Chicago School" that has been the cause of so much corruption and suffering around the world.

Greenspan Concedes Error on Regulation

"Alan Greenspan, the former Federal Reserve chairman once considered the infallible maestro of the financial system, admitted on Thursday that he “made a mistake” in trusting that free markets could regulate themselves without government oversight."

Until his death in 2006, Nobel Laureate (sorry Paul Krugman, you share a prize with an American economist who was completely, unequivocally WRONG) Milton Friedman, and his "Chicago School" were the leading proponents of opposition to government regulation of all sorts.

The lack of effective regulation, due to the influence of these "free market" privateers and their allies in The White House, on Capital Hill, and greedy, greedy Wall Street scum suckers is why we are in the trouble we are in today.

For much more information about what these greed mongers have foisted on the world ready Naomi Klein's "The Shock Doctrine".

Greenspan's legacy is now known; his "leadership" of The Fed led the planet to the most severely negative economic event since The Great Depression.