Greenspan Admits a Little Flaw
Greenspan spoke today and offered a no shit concession that there were flaws in his market ideology – in case you couldn’t tell by the state of the world economy. Blaming a “once in a century credit tsunami,” Greenspan offered the House Committee on Oversight and Government Reform a partial admittance that he was wrong about opposing regulation of derivatives before acknowledging that financial institutions didn’t protect shareholds and investments as well as he’d expected. I guess he forgot about that significant human flaw: greed.
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