Saturday, September 15, 2007

Greenspan didn't initially grasp risks of subprime mortgages (Louisville Courier-Journal)

Even the maestro didn't see it coming. Former Federal Reserve Chairman Alan Greenspan acknowledges that 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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