Yves Smith on Greenspin

If/when I grow up, I want to be Yves Smith. Earlier this year, Sir Alan, aka Mr. Serial Bubble Blower, joined Paulson & Co. and PIMCO in advisory positions. Those are two off the top of my preternaturally airy head; there must be more. Just like there must be some tasty treats stashed somewhere below the bottom of the trash can, if I could only dig that deep... Completely coincidentally, natch, these companies happened to profit in some small measure from Greenie's easy-money, no-ouchies policies. Point is, Yves waxes quite eloquent on the Paulson announcement here:

It's one thing for Greenspan to sell books and give speeches to try to salvage his reputation. Nixon did that too, with more success and less profit. It is quite another for him to benefit in a far more direct fashion from the devastation he created, by hooking up with the fund that scored the biggest kill from the worst aspects of the negative real interest rates that Greenspan put into effect.

Wow, Sir Alan compared unfavorably to Tricky Dick. Why didn't I think of that? Anyway, I highly suggest reading the whole rant for full effect. I will try to overlook this potential slight on her bio:

Although I believe ideas should stand on their own merit, rather than on their author's credentials, I also recognize that readers want some assurance that they are not quoting a 13 year old or a dog.

To make myself feel better, I'll imagine that Ms. Smith, if she had a tail, would have no more luck catching hers than I do mine.