Greenspan: Worst economy I've ever seen

Former Fed chief Alan Greenspan said that the economy is the worst he's ever seen it and that the current economic crisis might be a "once in a century" event. With the recent take overs of Fannie Mae and Freddie Mac, the floundering auto industry, and the 158-years-old Lehman Brothers investment firm teetering on the brink of collapse, the economic situation has taken a turn for the worse.

Greenspan offers his insight into the state of the economy and what the government should or should not do.