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He consistently sidestepped the thorny issues of just how destabilizing to the economy the bursting of asset bubbles is and how his policies may have contributed to the froth. Greenspan and his ilk seem to be fighting yesteryear's war against a long-slain monster.
Lo! here the token of what hath betid! Grown whole is the broken, found that which was hid. Now one way we follow whate'er shall befall; As seeketh the swallow his yesteryear's hall. Seldom folk fewer to fight-stead hath fared; Ne'er have men truer the battle-reed bared. Grey locks now I carry, and old am I grown, Nor looked I to tarry to meet with mine own.
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