Stiglitz in Vanity Fair

Columbia Professor and Noble Laureate Joseph Stiglitz has a really good article in the new issue of Vanity Fair explaining who is really to blame for the crisis. While the article says nothing new, it is amazing to see Greenspan's remarkable fall from grace in the past two years. My favorite quote: "Volcker also understood that financial markets need to be regulated. Regan wanted someone who did not believe any such thing, and he found him in a devotee of the objectivist philosopher and free-market zealot Ayn Rand....Greenspan presided over not one but two financial bubles"

http://www.vanityfair.com/magazine/2009/01/stiglitz200901