UNCLE ALAN FALLS OFF THE WAGON

UPDATE: Paul Krugman has more on Bubble Uncle.

In 2008, Alan Greenspan seemed to be on the way to recovery but like so many before him, he's had a relapse.

Greenspan: Financial Crisis Doesn’t Indict Ayn Rand Theories
April 04, 2010 11:28 AM
POLTICIAL PUNCH
ABC NEWS

TAPPER: You'll be testifying about the financial crisis on
Wednesday before the Financial Crisis Inquiry Commission. When you
testified before Congress in October, you said that you finally saw a
flaw in -- in the way that you looked at markets, that markets cannot
necessarily be trusted to completely police themselves.

But isn't it -- isn't it more than a flaw? Isn't it an indictment
of Ayn Rand and the view that laissez-faire capitalism can be expected
to function properly, that markets can be trusted to police themselves?

GREENSPAN: Not at all.