Greenspan: his culpa, her culpa, their culpa... not MEA CULPA!

1) Alan Greenspan is this morning reported on CNBC as saying that there is "more than a 50 percent chance the United States could go into recession," and that the Spanish property market is more f@cked than that in the US (so there!)

... during the meanwhilst...

2) He's also writing in The FT in response to those who say he replaced the dot.com bubble with the property bubble that it was NOT HIS FAULT! He says that other countries (like Spain?) were blowing bubbles at the same time... so how could it all be his fault?

Oh! Let me get this straight... you mean besides the fact that the world (ECB included, whatever they say) took its monetary lead from the Greenspan Fed? Maestro, not.

As William A Fleckenstein writes in his book "Greenspan's Bubbles: The Age of Ignorance at the Federal Reserve'' : ``Greenspan bailed out the world's largest equity bubble with the world's largest real-estate bubble... That combination easily equates to the biggest orgy of speculation and debt creation the United States (and the world) has ever seen.''

-----------------------------
Soon enough we're bound to get this guy on YouTube imploring us to "Leave Alan alone!"