Today’s seminal insight to stimulate your brain:
“There is still a very large unfunded capital requirement in the commercial banking system in the United States and that’s got to be funded. Until the price of homes flattens out we still have a very serious potential mortgage crisis.”
Alan Greenspan, showing off his newly developed gift for stating the obvious . . .
Greenspan Says Banks Still Have a ‘Large’ Capital Requirement
Bloomberg, May 21