As thousands of people are losing their homes, the dollar is in free fall and major hedge funds are collapsing,
Alan Greenspan wants us to know that there are some serious problems with the economy.
Writing an op-ed in today's
Financial times,
Greenspan warned that this is the worst financial crisis since the end of the second world war and that it will "leave many casualties," but he warned his successor about over-regulating the markets as a result of the crisis.
His old bank, the
Federal Reserve was working hard over the weekend to soften the landing and it has yet to be seen if the
Fed's emergency measures will actually do anything to woo back investors fleeing from the dollar for the relative safety of gold and the Euro.
It sure is nice of
Greenspan to check in and offer his advice and everything, but if he's so good at the whole "economics" thing, why do we even
have a housing crisis to begin with?
