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Alan Greenspan confessions now on sale at $36 a pop.
On predicting crises:"I did not come close at all on the housing boom." On lessons from the 2008 collapse of Lehman Brothers, one of the nations largest investment banks "Youd need government regulation to set up the capital standards because most banks, as Ive seen, will fight endlessly trying to get as little capital requirements as possible. If youre thinking in terms of the period when we all thought that people acted in their long-term self-interest, you can demonstrate in that hypothetical case that you need no regulations at all. It will be automatic. But thats not the way the world works. The premises that I believed prior to 2008 I had to discard because the evidence definitely said I was wrong." Posted by: Anguper Hupomosing9418 2013-10-18 |
| http://www.rantburg.com/poparticle.php?ID=377901 |