Talking from the sidelines, the still-yearning-to-be-relevant Alan Greenspan is now trying to bail out sub-prime mortgage lenders - and all the crooks who tried to get in on their disgusting predatory lending action - by suggesting a government bail out of borrowers.
What he's suggesting is that, rather than leaving the predatory and unscrupulous lending industry to pay for their devious practices by suffering severe defaulting and unhappy rate freezes, instead US taxpayers should bail out the borrowers so that the lenders (and their investors) can walk away with all their ill-gotten gains.
According to Mr. Greenspan, the fuck must go on. Henry Paulson has the right idea. Alan Greenspan is a tired old, contaminated voice. Since you did nothing to prevent the problem, Mr. Greenspan, please shut up and let your successors try to fix it without your annoying interference.
Greenspan Says He Favors a Government Bailout for Homeowners