I've been equally suprised that it hasn't been covered and clarified more since I saw him emphasize it twice during his C-SPAN testimony before the Senate and House last week. Here is one of the direct quotes:
[Greenspan] "There are also some issues, though, that haven't been mentioned, which I'm personally quite concerned about. We've had a stagnation of real wages in the country, at least in the last several years; slow absolute growth; and what I believe will ultimately be a real problem for the country, a growing concentration of wealth and income disparity as revealed by statistics..."
source: http://www.latimes.com/business/la-021605fedtext_wr,0,669160.story?coll=la-home-headlines
That's also a function of our idiotic policy on immigration: allow tens of millions of semi-literate Latin Americans into the country and you depress wage levels at the bottom half and increase wealth concentration at the upper end.
CORRECTION: That particular quote came from Senator Jon Corzine, sorry.
This from Senator Debbie Stabenow in the same article where she quotes Greenspan:
---start Stabenow---
You talk about, quoting you. "The failure of our society to enhance the skills of a significant segment of our workforce has left a disproportionate share with less skills. The effect is a widening wage gap between the skilled and the less skilled." And then you go on to talk about, "In a democratic society, such a stark bifurcation of wealth and income trends among large segments of the population can fuel resentment and political polarization," which I believe is happening today. And I share your concern about the concentration of wealth and really, what I view as splitting of the middle class in this country due to a host of issues. But I think it's important to emphasize that you said that strengthening elementary and secondary schooling in the United States, especially in the core disciplines of math, science, and written and verbal communications, is one crucial element in avoiding such outcomes. I would not expect you to comment on this, but I would just say for my colleagues, putting my budget hat on, this is of deep concern to me when I see that one-third of what has been proposed in the president's budget in terms of cuts are in education. And I think that goes right to the heart of what you speak about here. And I would not necessarily expect you to comment on the president's budget. But I think we should be listening to you, because we have huge wage and skill gaps that will affect us for decades to come, and we need to be investing in skills and education.
---end Stabenow---