Alan Greenspan's Rare Admission of Error During the 2008 Financial Crisis
By
Roger Lowenstein
Summary
This opinion piece argues that Alan Greenspan should be remembered not for his long tenure as Federal Reserve chairman or his free-market advocacy, but for his rare public admission of error during the 2008 financial crisis. It highlights the moment on October 23, 2008, when the financial system was collapsing, and Greenspan—who had championed deregulation—was forced to confront the consequences.
Source
bskyAlan Greenspan's Rare Admission of Error During the 2008 Financial Crisisnytimes.comKey quotes
· 3 pulledWhatever else, Alan Greenspan should be remembered for what is surely the rarest virtue among public officials: admitting error.
The American financial system was in tatters.
No one had championed the free market system or worked to block financial re
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