Why Ed Gramlich is also smarter than Al Greenspan

Gramlich called the MBS crisis (via Calculated Risk):

Edward M. Gramlich, a Federal Reserve governor who died in September, warned nearly seven years ago that a fast-growing new breed of lenders was luring many people into risky mortgages they could not afford.

But when Mr. Gramlich privately urged Fed examiners to investigate mortgage lenders affiliated with national banks, he was rebuffed by Alan Greenspan, the Fed chairman.

Here's a post on why Ben is also smarter than Al.