Sir, As a professional economist with many years of experience, I fail to understand why you devote space to comments by Alan Greenspan, who clearly has to bear so much responsibility for the current financial crisis.
Contrary to his inferences, we cannot blame China for the Fed's failed interest rate strategy earlier in this decade or the failure of the Fed to perform its regulatory duties.
If Mr Greenspan had been more interested in regulatory matters during his tenure at the head of the Fed, many of the current problems afflicting the US banking system and mortgage borrowers might have been avoided or at least mitigated.
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