The difference: Greenspan said it in his memoir, published once he was safely retired from government service.
Greenspan was the leading advocate of this ideological assumption, for which he has recently and ruefully apologized.
Consider, for example, this snippet of Greenspan's testimony today.
She criticized Greenspan for being too loose in the 1990s and now backs quantitative easing.
In other words, Greenspan only noticed the bubble as it began imploding.
People forget all too readily, but Greenspan is a consultant to Pimco, the largest bond manager in this quadrant of the galaxy.
I don't think Greenspan is just burnishing his reputation or rethinking his intellectual underpinnings.
Greenspan was infatuated with all sorts of markets, including financial ones.
But even if Greenspan had seen a bubble, he had another confession to make.
To save the banking system, Greenspan, along with a claque of Republicans like Lindsey Graham, now endorses nationalization.