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Friday, October 24, 2008

Greenspan Destroys Deregulation in 16 Seconds






Henry Waxman's Congressional Committee questions Alan Greenspan. Greenspan meets greed, shows in one answer why "trusting the markets" is epic fail.

Waxman: So where do you think you made a mistake then?

Greenspan: I made a mistake in presuming that the self-interest of organizations, specifically banks and others, was such as they were best capable of protecting their own shareholders.



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