Greenspan admits failure

Alan Greenspan, in testimony before Capitol Hill, admitted today that lack of regulation in the financial markets created a “once in a century credit tsunami.”

http://www.cbsnews.com/stories/2008/10/23/politics/politico/thecrypt/main4540881.shtml

Greenspan and the Republicans had long advocated unregulated markets, which now almost everyone admits led to the financial crisis we are now experiencing.

~ by christianliberal on October 23, 2008.

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