Friday, September 14, 2007

Greenspan acknowledges he didnt initially grasp risks of subprime mortgages (Naples Daily News)

Even the maestro didnt see it coming. Former Federal Reserve Chairman Alan Greenspan acknowledges he failed to recognize early on that an explosion of mortgages to people with questionable credit histories could pose a danger to the economy.

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[Source: Yahoo! News Search Results for mortgages]

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