"Fed boss Greenspan says no one saw the crisis coming. Really?"

[WhiskeyGirl]

Fed boss Greenspan says no one saw the crisis coming. Really?

Only in America. Only in America would it be possible to spawn a financial crisis so devastating that it would collapse the entire world economy.

Only in America could the man responsible for interest rates and banking regulation at the time, Alan Greenspan, incredulously insist, as he has again in testimony to the Financial Crisis Commission, that he had very little to do with it.

But not many will know of Dr Mike Burry, a one time neurologist who according to a new book* by the former bond salesman Michael Lewis, predicted the crisis almost exactly and persuaded Wall Street to create the instruments that would allow him to capitalise on it.

http://www.telegraph.co.uk/finance/financetopics/financialcrisis/7564598/Fed-boss-Greenspan-says-no-one-saw-the-crisis-coming.-Really.html


Dr. Burry impresses again...

[WhiskeyGirl]

The most amazing thing?  Dr. Burry is not an Obama academic.  He actually worked for a living and read the fine print.

Amazing.  All those fancy credentials on Wall Street and surrounding the White House...how many read and understand the fine print?