Steven Horwitz on Alan Greenspan's Blindness
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Steven Horwitz reviews Alan Greenspan's latest book, The Map and the Territory. He says that the once-lionized monetary "maestro" never considers the possibility that his own actions contributed to the housing bubble and ensuing financial collapse. Instead he focuses on government subsidies for housing, including implicit guarantees for government-sponsored mortgage lenders and congressional mandates that "historically underserved" populations get in on the home ownership binge.