Greenspan “shocked” by breakdown
Greenspan "shocked" by breakdown
Oct. 23 – Former Federal Reserve Chairman Greenspan said he was "shocked" by the breakdown in the credit system and told Congress the crisis was once in a century.
Greenspan was hailed as one of the most accomplished central bankers in U.S. history when he retired in January 2006. However, his decision to keep interest rates low during his final years at the Fed have been blamed in part for the housing bubble and crash that has led to the current deep financial crisis. Deborah Lutterbeck reports.
SOUNDBITE: Former Federal Reserve Chairman Alan Greenspan
Greenspan "shocked" by breakdownquestions
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