We have found the flaw and it be us...
The good news is, Alan Greenspan has seen the light. The bad news: It's a tail light of the steamroller that just pancaked us into the pavement.
Bloomberg quotes the ex-Fed chief as admitting (gawrsh!) deregulation and the Cult of the Free Market - time-bomb ideas he helped wire - may have been (how shall we put it?) ill-advised:
"'`Yes, I found a flaw,' Greenspan said in response to grilling from the House Committee on Oversight and Government Reform. ``That is precisely the reason I was shocked because I'd been going for 40 years or more with very considerable evidence that it was working exceptionally well.'




