Alan Greenspan: I Was Wrong (longer clip)

October 23, 2008 C-SPAN, Oversight & Government Reform Committee
Memoraresays...

Very interesting, saying his 40 year economic worldview had a major flaw and that he was shocked to discover it so.

Might that flaw be in not realizing that, when faced with a moral choice, man (in this case bankers) will choose Greed rather than what is Right. Amazing, all those decades of brilliant economics yet no grasp of basic human nature.

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