Greenspan "shocked" by breakdown – answers

Greenspan "shocked" by breakdown

questions

1. What was a rare event? the current financial crisis
2. What are we in the midst of? a credit tsunami
3. How often do these happen? once in a century
4. What is the word tsunami usually associated with?
   • drought
   • waves
   • cold weather
5. When did Greenspan have concerns? 2005
6. How has the crisis turned out? much broader than anything he could have imagined
7. What took him by surprise? behaviour by financial institutions
8. Who are in a state of shock? those who have looked to the self interest of lending institutions to protect shareholder’s equity
9. What does he expect to see? lay-offs and a rise in unemployment
10. Is Greenspan completely innocent of any blame? no, some blame him in part for the problems