Paul Krugman: Alan Greenspan, Doing His Best to Make Things Worse

Steven Pearlstein, a columnist at The Washington Post, read Alan Greenspan's new book, and discovered that the former Federal Reserve chairman believes that he bears no responsibility for all the bad things that happened on his watch - and that the solution to a financial crisis is, you guessed it, less government.

What Mr. Pearlstein didn't mention in a recent column, but I think is important, is Mr. Greenspan's amazing track record since leaving office - a record of being wrong about everything, and learning nothing therefrom. In particular, it has been more than three years since Mr. Greenspan warned that we were going to become Greece any day now, and declared the failure of inflation and soaring rates to have arrived already "regrettable."