Tuesday, February 23, 2010

It's A Little Late Now, Alan

Just in:
WASHINGTON (Reuters) - Former Federal Reserve Chairman Alan Greenspan said on Tuesday the U.S. economic recovery was "extremely unbalanced," driven largely by high-income people benefiting from recovering financial markets and large corporations.

Of course, he leaves out the fact the the "high-income people" are really just benefitting because the middle class just handed over a fifth of its wealth to the banks. Still, when even free-market cultists like Greenspan (a grown man whose ideology is ripped from trashy political romance fantasies like "Atlas Shrugged") is starting to think there's a problem, you things are bad.

Edit: "Handed over" is not the right phrase. "Got defrauded out of" is more appropriate, while still restrained.

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