Alan Greenspan was once considered a central banker nonpareil, a man feared and respected. But that reputation is long gone. His legacy is getting trashed, and once-whispered reservations are breaking into the open. At a Congressional hearing this week, he admitted he was "partially" at fault for the credit bubble now popping. His light-regulation only philosophy, in the eyes of some, led directly to the mess we're now in. Sure, the economy kept humming along, but we're now seeing the costs. The questioning, reports the New York Times, was "one of the harshest grillings of his life." Greenspan sounded contrite, but the damage to his reputation mounts. CNN already made him No. 6 on its list if Culprits of the Collapse.

For more:
- here's the New York Times article

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