Sunday, August 01, 2010

Former Fed Chairman Alan Greenspan Says the Financial System Is Broken

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Remember, this is the guy who ran the Federal Reserve from 1987 until 2006. Many people actually blame Greenspan's policies for breaking the American financial system. Nevertheless, it is surprising to hear Mr. Greenspan make such a statement.

At the moment there is no sign of that because the financial system is broke and you can not have inflation if the financial system is not working."

Source: Zero Hedge

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