October 23, 2008 (LPAC)--Sir Alan Greenspan, the fool made a British knight for his role in destroying the economy of the United States, appeared before Congress today and revealed that he is still an idiot, unable to learn from his multitude of mistakes. In his testimony before the House Committee on Oversight and Reform, Sir Alan placed the blame everywhere but on himself and the financial system he helped create, claiming that he is in "a state of shocked disbelief" at the magnitude of the crisis, which he asserted "has turned out to be much broader than anything I could have imagined."

Many who witnessed that statement are in a state of shocked disbelief that Greenspan could be so shameless or clueless.

Lord Greenspin expressed surprise that the "global economic policies that had worked so effectively for nearly four decades" could have come to such an unexpected result, conveniently overlooking the unpleasant reality that these policies have led to four decades of unmitigated disaster. Rather than blame the derivatives/securities-market scams he helped create and nurture, Sir Alien instead blamed the "excess demand from securitisers"--another verse of his "my system was good but some people used it wrong" song he has been singing since his "It's Not My Fault" world tour began. He also blamed not the risk-pricing models upon which the derivatives market is based, but instead blamed the "data inputted into" those models, and said the crisis would end when home prices in the U.S. stabilized.

Greenspan did admit that, despite "going for 40 years or more or more on the perception that it was working well," that there was "a flaw in the model." That is a delicate way to put it, Sir Al. What you really did, admittedly with lots of help, was to bankrupt the United States and blow up the world. Your policies were wrong, your system was wrong, and it is your fault!