Interesting comments from Bollard

http://www.stuff.co.nz/4785166a13.html

Not surprising, but his commentary and overseas funded short term lending undermining their ability to control the market is interesting.

Finance 2.0 in a global market

yes I commented on some things hes been saying in a finance forum . I thought it was interesting his comments as reported by the Herald in the article about him being crowned Business Leader of the Year.

"He expects the "series of seismic after-shocks" to continue and to be dealt with by governments which realise they have few options but to nationalise risk and loss in a way they would never have considered, even a short time ago.
"And in doing that they eventually stem the damage, but it leaves quite a distorted financial system in place which is very conservative, takes a long time to rebuild its balance sheets and recapitalise properly, and which has to get weaned off the public purse again." That will be a long and tedious process.
"So there will be some lost years in all this before we get back to trend rates of growth. We hope it is going to be a couple of years and not a lost decade like Japan's," Bollard said.

He's got his head screwed on ok imo.

This... is probably going to be the case.

Although Greenspan is certainly far from being the only person who can be held responsible, it does seem that he may be made a scapegoat as far as hindsight is concerned.

greenspan has been massively criticized and has accepted a fair degree of it himself.