With all the financial sector shakeups this last weekend with Merrill being sold to B of A, Lehman’s declaring bankruptcy after multiple failed attempts to salvage it, AIG being saved at the last second by the Fed, and the potential for WaMu (who is currently the official bank ro rpj.com, B of A here I come?) to fail it’s no surprise that Greenspan got to keep alive his dream of constant speculation.

The Huffington Post

Former Federal Reserve Chairman Alan Greenspan offered a woeful outlook of America’s economic situation on Sunday, saying the crisis with the country’s financial institutions was as dire as he had ever seen in his long career, and predicting that one or more of those institutions would likely collapse in the near future.

“Oh, by far,” Greenspan said, when asked if the situation was the worst he had seen in his career. “There’s no question that this is in the process of outstripping anything I’ve seen and it still is not resolved and still has a way to go and, indeed, it will continue to be a corrosive force until the price of homes in the United States stabilizes. That will induce a series of events around the globe which will stabilize the system.”

Alan Greenspan covered all the topics, except the fact that he is pretty much single handedly responsible for what is happening to our economy currently, but hey that isn’t really important right?

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