Nothing new in this, and as Navydoc says, it skimped over a few things. Good questions were asked and the fun was in seeing how interviewees squirmed on their seats. Two poignant moments; one when a Bears Stearns employee responsible for structuring CDOs was asked if he felt responsible or guilty …a long and very pregnant pause ensued. The other when Greenspan finished off with, “It doesn’t work”. It’s not totally clear whether he was referring to the free market, or aspects of the crisis, but his wily summing-up put it down to the human condition, (for which one is therefore to assume there are no apologies). I felt his placating timbre –notwithstanding the imperfections of the system etc, and it should be viewed within the framework of its success in eliminating poverty to many people, is not much consolation to many. Lucky for him, we’re brought up that it’s wrong to hit an old dog.
