Tag Archives: Economics

Greenspan and "Free" Markets

Saw this in the NY Times.  Alan Greenspan has said for the first time that he made errors in judgment during the huge subprime boom.  Actually, I specifically remember him supporting subprime mortgages because he was the most quoted guy in the mortgage banking industry.  He said that subprime mortgages were great because they allowed more people to get into homes.

WASHINGTON — For years, a Congressional hearing with Alan Greenspan was a marquee event. Lawmakers doted on him as an economic sage. Markets jumped up or down depending on what he said. Politicians in both parties wanted the maestro on their side.

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