Stocks were savaged for another week. It was one of the worse days on global markets since the collapse of Lehman Brothers last month. The STI plunged to 1600, its lowest close since Sept 2003.
Former Fed chief Greenspan admits he was wrong for his putting too much faith in the self-correcting power of free markets and for his failing to anticipate the self-destructive power of wanton mortgage lending.
Saturday, October 25, 2008
Greenspan was wrong
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