Alan Greenspan on crack

Four days ago, Alan Greenspan posted an article wondering what went wrong:

“We will never have a perfect model of risk”

“Risk management systems – and the models at their core – were supposed to guard against outsized losses. How did we go so wrong?”

Hey Alan! Check your spam folder for 2006. You will find it is full of ads saying:

“Buy the house of your dreams for no money down! No credit? Bad credit? No Income? No Problem!”

Gimme some of what he’s been smoking.

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