Regarding Fannie and Freddie, Mr. Greenspan told Congress in 2005, "We are placing the total financial system of the future at substantial risk."
NUGENT: Is the kettle black enough? →
As I pondered this, I was reminded of another two words used by Mr. Bernanke's predecessor, Alan Greenspan, in late 1996 when he warned of extended valuations in the stock market.
VERSACE: Schools profit as workers update skills →