Greenspan Blamed for Financial Crisis
Alan Greenspan, the former chairman of the Federal Reserve, was questioned on Capital Hill Thursday to determine his part in the financial crisis, NewYorkTimes.com.
Greenspan denied that he was a part of the financial crisis but acknowledged his thinking on how free markets works may have been flawed he said, StarTribune.com.
He said the housing crisis is a “once-in-a-century credit tsunami." that led to the free market system to fail.
An advocate of the free market system, Greenspan, a Republican, proposed stronger regulation, NewYorkTimes.com.