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Re: Nettles post# 24908

Thursday, 10/23/2008 2:05:32 PM

Thursday, October 23, 2008 2:05:32 PM

Post# of 42555
A "flaw" he says.....

well now that's sure putting it mildly....that's like calling Pearl Harbor a disagreement....lol

Greenspan Concedes to `Flaw' in His Market Ideology (Update1)

By Scott Lanman and Steve Matthews

Oct. 23 (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan said a ``once-in-a-century credit tsunami' has engulfed financial markets and conceded that his free-market ideology shunning regulation was flawed.

``Yes, I found a flaw,' Greenspan said in response to a grilling from the House Committee on Oversight and Government Reform. ``That is precisely the reason I was shocked because I'd been going for 40 years or more with very considerable evidence that it was working exceptionally well.'

& the rest can be found here for those who r in need of a few more laughs.....

http://www.bloomberg.com/apps/news?pid=20601087&sid=ah5qh9Up4rIg&refer=home


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