Greenspan Calls Meltdown "Greatest Financial Crisis"

Normally, I don't listen to Alan Greenspan, but when he says the the financial meltdown is worse than the Great Depression, it bears noting:

Former Federal Reserve Chairman Alan Greenspan said on Tuesday the U.S. economic recovery was 'extremely unbalanced,' driven largely by high earners benefiting from recovering stock markets and large corporations.

Small businesses and the jobless are still suffering from the aftermath of a credit crunch that was 'by far the greatest financial crisis, globally, ever' -- including the 1930s Great Depression, said Greenspan in an address to a Credit Union National Association conference.

(emphasis mine)

While I have very little confidence in judgment of Andrea Mitchell's husband, the time that any economist of any note says "worse than the Great Depression," it's time to think about why we aren't fixing this.