Wednesday, May 19, 2010

"Rep. Henry Waxman: You have been a staunch advocate for letting markets regulate themselves. Were you wrong?

"Alan Greenspan: Yes, I found a flaw in the model that I perceived that was the critical functioning structure of how the world works.

"Waxman: In other words you found that your view of the world, your ideology was not right.

"Greenspan: Precisely." --Testimony, House Oversight and Government Committee, Oct. 23, 2008

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