Books of Account
William A. Fleckenstein
( http://www.tatamcgrawhill.com/ )
Tale for the gullible in bubbledom
Greenspan bailed out the world’s largest equity bubble with the world’s largest real estate bubble, writes William A. Fleckenstein in Greenspan’s Bubbles: The Age of Ignorance at the Federal Reserve. “That combination easily equates to the biggest orgy of speculation and debt creation the US (and the world) has ever seen,” he rues.