{"id":553,"date":"2008-10-25T15:00:34","date_gmt":"2008-10-25T04:00:34","guid":{"rendered":"https:\/\/calltoreason.org\/?p=553"},"modified":"2008-11-10T13:55:13","modified_gmt":"2008-11-10T02:55:13","slug":"greenspan-says-oops","status":"publish","type":"post","link":"https:\/\/calltoreason.org\/?p=553","title":{"rendered":"Greenspan says &#8220;Oops!&#8221;"},"content":{"rendered":"<p>Two weeks ago, I wrote a blog <a href=\"https:\/\/calltoreason.org\/?p=411\">post<\/a> saying if any public official in the U.S. ought to be blamed for the current mess in the financial markets, it ought to be Alan Greenspan, the former Chairman of the Federal Reserve. A couple of days ago, at a Congressional hearing, Greenspan admitted that he had made <a href=\"http:\/\/www.nytimes.com\/2008\/10\/24\/business\/economy\/24panel.html?_r=2&amp;adxnnl=1&amp;oref=slogin&amp;adxnnlx=1224906938-noepJvqxRSf4qNjkLYgohw\">mistakes<\/a>, while stopping short of taking full responsibility. He also admitted that he had failed to take action earlier for idealogical reasons, believing that the markets would be self-correcting.<\/p>\n<p>It&#8217;s a bad time to believe in capitalism. As a poster on QT3 remarked, Greenspan was &#8220;like BFF with Ayn Rand and everything&#8221;. Hopefully, I&#8217;ll have time to write a spirited defense of capitalism next week.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Two weeks ago, I wrote a blog post saying if any public official in the U.S. ought to be blamed for the current mess in the financial markets, it ought to be Alan Greenspan, the former Chairman of the Federal Reserve. A couple of days ago, at a Congressional hearing, Greenspan admitted that he had &hellip; <a href=\"https:\/\/calltoreason.org\/?p=553\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Greenspan says &#8220;Oops!&#8221;<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[95,61,86],"class_list":["post-553","post","type-post","status-publish","format-standard","hentry","category-news","tag-alan-greenspan","tag-ayn-rand","tag-economic-crisis"],"_links":{"self":[{"href":"https:\/\/calltoreason.org\/index.php?rest_route=\/wp\/v2\/posts\/553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/calltoreason.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/calltoreason.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/calltoreason.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/calltoreason.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=553"}],"version-history":[{"count":6,"href":"https:\/\/calltoreason.org\/index.php?rest_route=\/wp\/v2\/posts\/553\/revisions"}],"predecessor-version":[{"id":694,"href":"https:\/\/calltoreason.org\/index.php?rest_route=\/wp\/v2\/posts\/553\/revisions\/694"}],"wp:attachment":[{"href":"https:\/\/calltoreason.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/calltoreason.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/calltoreason.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}