Saturday, October 25, 2008

Greenspan Calls Financial Meltdown a Tsunami.

WASHINGTON (Reuters) - Former U.S. Federal Reserve Chairman Alan Greenspan told Congress on Thursday he is ''shocked'' at the breakdown in U.S. credit markets and that he expects the unemployment rate to jump. Bottom line, all of this was brewing when Greenspan was Chairman of the Fed, he should not be " shocked ", but should have seen it coming.

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