http://www.telegraph.co.uk/finance/financetopics/financialcrisis/7564598/Fed-boss-Greenspan-says-no-one-saw-the-crisis-coming.-Really.html
Only in America. Only in America would it be possible to spawn a financial crisis so devastating that it would collapse the entire world economy.
Only in America could the man responsible for interest rates and banking regulation at the time, Alan Greenspan, incredulously insist, as he has again in testimony to the Financial Crisis Commission, that he had very little to do with it.
And only in America could you imagine the story of a one-eyed neurology intern with undiagnosed Asperger's Syndrome (no not Gordon Brown) who ended up making a fortune by applying the principles of "value investing" to subprime mortgage lending. Greenspan says no one saw it coming. Well, this man did.
Everyone has heard of Warren Buffett, the modern day master of "value investing", and most will recognise the name of John Paulson, the hedge fund manager who famously made billions riding the credit crunch storm.
But not many will know of Dr Mike Burry, a one time neurologist who according to a new book* by the former bond salesman Michael Lewis, predicted the crisis almost exactly and persuaded Wall Street to create the instruments that would allow him to capitalise on it.
