‘I made a mistake,’ admits Greenspan

Alan Greenspan, the former Federal Reserve chairman, said on Thursday the credit crisis had exceeded anything he had imagined and admitted he was wrong to think that banks would protect themselves from financial market chaos.

“I made a mistake in presuming that the self-interest of organisations, specifically banks and others, was such that they were best [...]

Greenspan: ‘Credit tsunami’ to have severe impact

Former Federal Reserve Chairman Alan Greenspan told Congress in prepared testimony Thursday that the current global financial crisis is a ‘once in a century credit tsunami’ that policymakers did not anticipate. “Given the financial damage to date, I cannot see how we can avoid a significant rise in layoffs and unemployment,” Greenspan said. “Fearful American [...]

Greenspan to Stephanopoulos: This is ‘By Far’ the Worst Economic Crisis He’s Seen in His Career

ABC News’ George Stephanopoulos Reports: Former Federal Reserve Chair Alan Greenspan said this morning that this is “by far” the worst economic crisis he has ever seen. “There’s no question that this is in the process of outstripping anything I’ve seen, and it still is not resolved and it still has a way to go,” [...]

Greenspan says U.S. economic growth slowing

Former Federal Reserve Chairman Alan Greenspan said on Sunday that the rate of U.S. economic growth was slowing, but the odds of a recession are less than 50 percent.
Greenspan also said in an interview on CNN’s “Late Edition with Wolf Blitzer” that the turmoil caused by the subprime mortgage crisis was easing and financial markets [...]