All very sensible observations to moi ...
If that were the worst thing Greenspan ever did, I'd be thankful. Greenspan is the all-time champion taxpayer bailout king. While they tell us we are rescuing "poor old Mexico," even an establishment hack like Kudlow acknowledges the truth: you and I are taxed to bail out Citigroup et al. Since they can always count on us to bail them out, think they will do it again? and again? and again?
Moreover, his main point here is the capital squeeze that has choked off growth.
Kudlow alleges Greenspan is doing something that Greenspan would have no motivation to do and quotes erroneous statistics to demonstrate his point. What do you find so compelling in this argument?