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Greenspan Is Shocked! Shocked!

This definitely falls into the “Give me a break” category

In case anyone didn’t know, Greenspan now runs a hedge fund (can you spell R-E-V-O-L-V-I-N-G D-O-O-R?) I wonder it it’s tanking like most of the other hedge funds these days….

Greenspan “shocked” at credit system breakdown

Thu Oct 23, 2008
By Mark Felsenthal

WASHINGTON (Reuters) – Former U.S. Federal Reserve Chairman Alan Greenspan told Congress on Thursday he is “shocked” at the breakdown in U.S. credit markets and said he was “partially” wrong to resist regulation of some securities.

Despite concerns he had in 2005 that risks were being underestimated by investors, “this crisis, however, has turned out to be much broader than anything I could have imagined,” Greenspan said in remarks prepared for delivery to the House of Representatives Committee on Oversight and Government Reform.

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