Alan Greenspan’s comments on the current financial situation here:
Greenspan Sees Many Casualties From Crisis
By Jamie McGeever & Ian Chua – Reuters (17 Mar 2008)
Catherine’s translation here:
Our efforts to centralize ownership and governance of global resources through the financial system have been successful. Now that this phase is complete, there were numerous people and institutions who were important to grow and manage the bubble, who are no longer needed. We are letting them go.
We are proceeding to consolidate control and implement new regulation through the international banking and monetary system. These decisions have been made and you will support them. If you want to be part of our team and enjoy any of the winnings, you will affirm that sweeping changes in global financial governance are in the interests of “free, healthy markets” which create “real wealth.”
