Greenspan Concedes Mortgage Dilemma:
"'While I was aware a lot of these practices were going on, I had no notion of how significant they had become until very late,' he said in a CBS '60 Minutes' interview to be broadcast Sunday. 'I really didn't get it until very late in 2005 and 2006,' Greenspan said."
But, but you're Maestro! You knew EVERYTHING! Think about this for a minute: he was aware that dangerous, questionable, extremely risky lending practices were not only happening but causing the run-up in housing prices thereby creating an unsustainable market bubble, AND HE DIDN'T GET IT!
I think he is a liar. He could NOT have been that stupid. I think his banker friends wanted him to look the other way and he complied. They got theirs. And now, unfortunately, the rest of the country will get ours.