Their Lips Are Moving

Financial Crisis Inquiry Commission is having three days of hearings on 

Subprime Lending and Securitization and Government-Sponsored Enterprises

Today it was Alan Greenspan.  Video and testimony here

Bailout Sleuth wrote about today’s testimony here.

“Commission Chairman Phil Angelides continually asked Greenspan about the Fed’s enforcement efforts, suggesting it could have done more to crack down on mortgage fraud and predatory lending, given the warnings that the Fed received from community groups, government agencies and law enforcement.

“Why did you allow it to become such an infection in the marketplace?” Angelides asked Greenspan.”

I’ll leave you hanging with that one.

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