Greenspan admits ‘mistake’
gar | 24.10.2008 09:40
WASHINGTON - Badgered by lawmakers, former Federal Reserve Chairman Alan Greenspan denied the nation’s economic crisis was his fault on Thursday but conceded the meltdown had revealed a flaw in a lifetime of economic thinking and left him in a “state of shocked disbelief.”
wow !!
Greenspan admits ‘mistake’
http://www.msnbc.msn.com/id/27335454/
WASHINGTON - Badgered by lawmakers, former Federal Reserve Chairman Alan Greenspan denied the nation’s economic crisis was his fault on Thursday but conceded the meltdown had revealed a flaw in a lifetime of economic thinking and left him in a “state of shocked disbelief.” ..
... “The list of regulatory mistakes and misjudgments is long,” panel chairman Henry Waxman declared.
Greenspan, 82, acknowledged under questioning that he had made a “mistake” in believing that banks, operating in their own self-interest, would do what was necessary to protect their shareholders and institutions. Greenspan called that “a flaw in the model ... that defines how the world works.” ...
http://www.msnbc.msn.com/id/27335454/ WASHINGTON - Badgered by lawmakers, former Federal Reserve Chairman Alan Greenspan denied the nation’s economic crisis was his fault on Thursday but conceded the meltdown had revealed a flaw in a lifetime of economic thinking and left him in a “state of shocked disbelief.” ..
... “The list of regulatory mistakes and misjudgments is long,” panel chairman Henry Waxman declared.
Greenspan, 82, acknowledged under questioning that he had made a “mistake” in believing that banks, operating in their own self-interest, would do what was necessary to protect their shareholders and institutions. Greenspan called that “a flaw in the model ... that defines how the world works.” ...
gar
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