This opinion from Andrew Leonard in Salon.com will make some of you happy and others angry. Enjoy.
The economy crumbled(Salon.com) Of all the economic earthquakes that racked the global economy in 2008, one temblor ranks supreme. Alan Greenspan's declaration to Congress on Oct. 23: "I made a mistake."
In those four words can be heard the crumbling of at least three decades of ideological dominance. Technically speaking, Greenspan was acknowledging that he had misjudged the private sector's ability to manage risk in a largely deregulated environment. After all the carnage on Wall Street in 2008, the conclusion, even to Greenspan, was inescapable: High finance's best and brightest had proved incapable of understanding their own business.
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