Greenspan's Bailout Legacy Is Warsh's Straitjacket

Federal Reserve Chair Kevin Warsh stated that the Fed will not bail out failing crypto firms, emphasizing that the industry must bear its own risks as regulators finalize rules under the GENIUS Act. This stance contrasts with the legacy of former Chairman Alan Greenspan, who began in 1987. Greenspan is criticized for transforming the Fed into a bailout machine during stock market crashes, where Wall Street retained gains while taxpayers and dollar holders absorbed the losses.