Greenspan: ""Accident Waiting To Happen"


	Greenspan: ""Accident Waiting To Happen"

Forbes Markets

10-22-2007 5:58 PM

757 views

tags:

alan greenspan, federal reserve, hedge funds, investment banking, markets, private equity, subprime mortgages, u.s. economy, wall street

Forbes Markets says:

Acoompanying video clip has Greenspan speaking more plainly than he ever did when in office.

1 Comment |

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10-22-2007 10:02 PM

kmcolo

Trying his best to deflect responsibility.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/b15ee12e-afeb-4f4f-b001-37650fd0091c/B32F905F-7247-41F5-9A37-5693377EC6B3/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.reuters.com/news/video/videoStory?videoId=69218&videoChannel=5" href="http://www.reuters.com/news/video/videoStory?videoId=69218&videoChannel=5" style="font-size: 11px;">www.reuters.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.reuters.com/news/video/videoStory?videoId=69218&videoChannel=5"><P>Former U.S. Federal Reserve Chairman Alan Greenspan says the current financial crisis was an "accident waiting to happen".</p> <P>Alan Greenspan speaking in Washington D.C said that the unusually high degree of risk taking across asset classes made recent financial market turmoil all but inevitable.Defaults on subprime loans, made to borrowers with poor credit records, have spiked in recent months, setting off a chain reaction that has tightened credit conditions around the globe. 
</P><P>That, in turn, has raised worries about the U.S. economy that have sent the value of the U.S. dollar tumbling.  Greenspan's comments echo those he made to Reuters recent during an interview in London.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/B32F905F-7247-41F5-9A37-5693377EC6B3/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>