Did Alan Greenspan say?????

Abuskedti

His mistake was that be believed that banks (among others) were in the best position for looking out for their self interests and that of their stock holders.

He said he thought that, and he was wrong.

Isn't that the same as Alan Greenspan saying the free market economy model is wrong? essentially that he no longer suports the model of capitalism.

DriftingByTheStorm

You mean the same Alan Greenspan who, back in the late 60s, wrote an article about the necessity of the gold standard, and how without it the American people had no security against the scandal of the statist monetary schemes?

Yeah.
He is a known hypocrite.
Nothing new here.

I believe he also just said that his assumptions were based on a flawed fundamental theory of the way the world works.

No big deal.
Just a flawed fundamental theory of the way the world works, is all.
You mean inflation isn't a good thing, Al?
:rolleyes:

sponger

I do have to hand it to him for being the first and so far the only person who is responsible for our economic woes to actually stand up and take at least some responsibility for it.

That's a major contrast from Phil Gramm, who still to do this day takes no responsibility for the Enron scandal, let alone for the recent events. And I don't believe there is a person on the planet other than himself who doesn't believe he should be held accountable for both.