Steven Horwitz on Alan Greenspan’s Blindness

Steven Horwitz reviews Alan Greenspan’s
latest book, The Map and the Territory. He says
that the once-lionized monetary “maestro” never considers the
possibility that his own actions contributed to the housing bubble
and ensuing financial collapse. Instead he focuses on government
subsidies for housing, including implicit guarantees for
government-sponsored mortgage lenders and congressional mandates
that “historically underserved” populations get in on the home
ownership binge.

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