I was referring to what Wall Street does as far as the Stock Market is concerned. Not what banks did in buying and selling mortgages.
As for what Greenspan says...it doesn't really interest me that much.
As the head of the Federal Reserve he shouldn't ever have been in a "state of disbelief"
If he was, then that is incompetence on his part.
And he had no power over what Congress did for their cronies with the laws and regs of banks anyway.
It was the Housing Market crashing...and the big part of that is because lifetime/career politicians are for sale every day in Washington D.C.
You can't buy a vote that isn't for sale to begin with.
That's why I think the Republicans and Democrats need to have their monopoly on power ended.
We just keep voting them in over and over and over and expecting something different will happen.