Video: Greenspan admits he 'made a mistake' The financial crisis even prompted the Republican Greenspan, a staunch believer in free.
A 2000 United States Department of the Treasury study of lending trends for 305 cities from 1993 to 1998...
Videos greenspan housing crisis - - tour SeoulBillion Dollar Startup Club. His model of economic behavior and government policy resulted in profound financial instability every few years and subpar economic performance for the nearly twenty years he was Fed chairman. Packaging mortgages into securities—securitization—had made such institutional investors as pension funds and insurance companies the major providers of funding for mortgages. Please check the stock symbol. The fact that banks were issuing fraudulent mortgages by the millions, and that the Wall Street crew was securitizing them as fast as they could get them, was not top secret information available only to those with special security clearance. He said the boom in subprime lending occurred because of the huge demand for investment opportunities in a global economy, and he blamed the crash on a failure by investors to properly assess the risks from such mortgages, which went to borrowers with weak credit. He should admit his role in the housing crisis, not insult our intelligence.
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In Egypt, Pope Condemns Religiously Inspired Violence. But the economy was not expanding at a healthy rate. Order Reprints Today's Paper Subscribe.