Greenspan Speaks Again

A lot of people have accused Greenspan of being a day late and a dollar short, or of causing the current bubble in the first place. Regardless of what Greenspan did or did not do in the past, he is now clearly trying to talk some sense into the credit market and the housing market.


["History cautions that extended periods of low concern about credit risk have invariably been followed by reversal, with an attendant fall in the prices of risky assets," Greenspan told an economics conference in Chicago via satellite.]


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