Saturday, 8 May 2010

Greenspan: "Most Virulent Global Financial Crisis Ever"

Alan Greenspan previously said that the current credit crunch is "by far the greatest financial crisis, globally, ever" -- including the 1930s Great Depression.

As Bloomberg noted:

Greenspan said that while the economy was in worse shape in the Great Depression, the recent financial crisis was potentially more harmful than that in the 1930s because “never had short-term credit literally withdrawn.”
Today, Greenspan said:

The evaporation of the supply of such credits on so global a scale within hours or days of the Lehman failure is, I believe, without historical precedent ...

The bankruptcy of Lehman Brothers in September 2008 precipitated what, in retrospect, is likely to be judged the most virulent global financial crisis ever.....

Greenspan is not alone. more...


Disclaimer - The posting of stories, commentaries, reports, documents and links (embedded or otherwise) on this site does not in any way, shape or form, implied or otherwise, necessarily express or suggest endorsement or support of any of such posted material or parts therein.

The myriad of facts, conjecture, perspectives, viewpoints, opinions, analyses, and information in the articles, stories and commentaries posted on this site range from cutting edge hard news and comment to extreme and unusual perspectives. We choose not to sweep uncomfortable material under the rug - where it can grow and fester. We choose not to censor skewed logic and uncomfortable rhetoric. These things reflect the world as it now is - for better and worse. We present multiple facts, perspectives, viewpoints, opinions, analyses, and information.

Journalism is (or used to be) the profession of gathering and presenting a broad panorama of news about the events of our times and presenting it to readers for their own consideration. We believe in the intelligence, judgment and wisdom of our readers to discern for themselves among the data which appears on this site that which is valid and worthy...or otherwise.

  © Blogger template 'Perfection' by 2008

Back to TOP