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Even Greenspan says it's bad
When Alan Greenspan says it's bad, run for the hills. For months, the former Fed chairman has been issuing his predictions -- first it was a less-than-50 percent chance of recession, then it was about 50-50, and now it could be the worst financial crisis since the end of World War II. In an editorial in the Financial Times, Greenspan says the crisis will end only when home prices stabilize. When that happens, he says, financial institutions will either need to recapitalize or go out of business.
Posted on March 17, 2008 4:55 AM PT | Permalink
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Latest Comments
- The economy: Not at your service (1)
- Laura Beth wrote: SO WHAT. To me, it is GREAT that the economy is NOT growing.... [read]
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- Chuck wrote: Until our elected "leaders" stop taking bribes from the weal... [read]
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- dallas latham wrote: diabolical!!!!! ... [read]
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Marketplace Confessional
I've just listened to Mr. Stein's concern for the poor working man. No doubt he drove his Bronco to the station to make his plea for the common man. Honestly, Ben Stein weeping for the common man's fate? After my sides stopped hurting from laughing ...
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