53 Brentwood Blog

Friday, October 24, 2008

I made a mistake

Alan Greenspan - I have found a flaw [referring to his economic philosophy] … I don't know how significant or permanent it is. But I have been very distressed by that fact.

Henry Waxman - You found that your view of the world, your ideology, was not right, it was not working?

Alan Greenspan - That's precisely the reason I was shocked because I'd been going for 40 years or so with considerable evidence that it was working exceptionally well.-


Alan Greenspan - I made a mistake in presuming that the self-interests of organisations, specifically banks and others, were such that they were best capable of protecting their own shareholders and their equity in the firms.


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