Greenspan

Alan Greenspan Tries Unsuccessfully to Have It Both Ways: Whiskey-Tango-Foxtrot Weblogging by DeLong

The first point, of course, is that subprime mortgage-based securities in the hands of Fannie Mae and Freddie Mac were not a source of systemic risk, and not a source of the financial crisis and Lesser Depression

And the second point is that Alan Greenspan cannot, on the one hand, say "it's all the fault of the U.S. guviment!" and on the other hand say "the housing bubble looks the same whether you're going to Canada, Australia or any of 20 other countries". That just does not compute.