The Financial Architect Apologizes

Well, kind of apologizes. At least he admitted that he really made some bad calls. Doesn't make things any better right now, but it was interesting to hear.

Greenspan Uses The Bush Excuse: Financial Crisis Was ‘Broader Than I Could Have Imagined’

In a House Oversight Committee hearing today, former Fed Chairman Alan Greenspan claimed the credit crisis is a “once in a century credit tsunami” that policy makers did not anticipate. Greenspan repeatedly distanced himself from the financial meltdown, however, saying he didn’t foresee the crisis because of a “flaw in the model.” Greenspan claimed was “shocked” [...]