As early as 1996, White was critical of Alan Greenspan, who was head of the US Federal Reserve at the time, due to his ultra-loose monetary policy with which he had hoped to unleash the financial markets. He also warned of the coming crisis on the mortgage market long before Lehman went belly up.
But few were interested in what the economist had to say at a time when the apparently all-powerful financial industry was driving the economy around the world. Once Lehman collapsed, however, that industry threatened to implode and take the global economy along with it, not unlike an immune system that turns on its own body and destroys it.
Der Spiegel Date: 17 November 2016
