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Greenspan Destroys Deregulation in 16 Seconds

submitted by NetRunner

1 decade 6 years 1 month ago

From YT: 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.