The problem with this narrative is that it forgets one troubling reality: Greenspan was pressured to lower interest rates artificially by the Clinton administration. Why? Well, for some very good reasons. Everything was going gangbusters in America in the early 1990s, but black people were still way behind in homeownership numbers (and in earnings numbers). Black people couldn't get a loan. So Clinton wanted more black people to be able to afford homes. So what did he do? He made Greenspan loosen interest rates so there would be more money so that more people (namely "risky" people--low income people) could get loans.
The only problem with all of this, of course, is that nobly extending loans to riskier groups of people in the interest of "human rights" doesn't make those loans less risky. The result, which started showing up by the late 1990s, was that the people who were given loans they couldn't afford started (surprise!) defaulting on their loans. Another textbook case of the way that social engineering, while high in sentiment, often backfires and leads to "solutions" that are worse than the original problem. This has nothing to do with race. It's simple math: if someone makes only $45,000/yr., don't give them a loan to buy a $350,000 house--they won't be able to afford it.
I say the scene with Greenspan is "pathetic" because we all know the story. Greenspan used to hang out with Ayn Rand. He's a heartless capitalist. He must've heard that narrative his whole adult life. And then one day in the early 1990s, he tired of hearing everyone call him a sunovabitch... and he lowered interest rates in a way that made policy go haywire. He must've known it would happen, but he did it anyway, tired of being called a racist, heartless, ass. Tired of hearing how defenders of market economics don't care about people. Who can really blame him?--everyone wants to be accepted. The pathos rises to Sophoclean levels now, where we find a tired-looking Greenspan a decade later, unable to explain to a forgetful public that he had nothing but humanist motivations. He did what was considered the humane thing. He wanted to be thought of as kind.