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.”
Former Federal Reserve Chairman Alan Greenspan, describing the current financial crisis as a “once-in-a-century credit tsunami,” acknowledged Thursday that the crisis has exposed flaws in his thinking and in the workings of the free-market system.
Duh, do you think? Maybe now we can drive a stake through the
hearts wallets of the free market, federal reserve, and Alan Greenspan.