Federal Reserve Repudiates Alan "Bubbles" Greenspan

The Fed has decided that it will begin to examine ways of dealing with asset bubbles.

This contradicts with Alan "Bubbles" Greenspan's dictum that, "it was in practice impossible to identify bubbles before they burst, and attempts to prick them by raising rates were likely to do more harm than good."

Another well deserved nail in the coffin of Ayn Rand's buddy's reputation.