To the man who never met a bubble he didn't love. Upload a photo or video, leave a comment, or discuss Alan Greenspan on his own personal (parody) social network: alangreenspan.ning.com.

Alan Greenspan's Bubbles: How hubris and fear of minor economic hickups lead him to create massive amounts of excess liquidity, which enabled and encouraged overconfidence in everyone from the president on up [yes, "up"] to the college kid on his third investment property who thought real estate prices could only rise and interest rates only fall. Sprinkle in perverse incentive systems and some white collar crime and you have a disaster. Irrational exuberance, indeed!

UPDATE: 2008-4-29: Good article (pdf): Immoral Hazard.