Mortgages, Mortgages, and Going Belly-up

More on Greenspan and the market crisis. Apparently, he and some other econ nerds knew of the risk that many investors were taking, but since these people were a small portion of the market and were largely limited to the rich (as in $40M+ net worth), Greenie & co. opted not to do anything.

Also, he thinks that there's a less than 50% chance of a recession, which is almost a relief. But as a last warning note, he said that we, globally, have been experiencing "inflation tranquility" for the last twenty years that can't possibly last.

In other words, I'll see y'all in the bread line come next fall.