Thursday, October 23, 2008

Greenspan to lose faith in conservative religion?

[A]lmost three years after stepping down as chairman of the Federal Reserve, a humbled Mr. Greenspan admitted that he had put too much faith in the self-correcting power of free markets and had failed to anticipate the self-destructive power of wanton mortgage lending.
. . .
Mr. Greenspan refused to accept blame for the crisis but acknowledged that his belief in deregulation had been shaken.
From the NYTimes.

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