Offered another chance on national television to admit that he was wrong about the housing market and that his policies might have contributed to the meltdown, Alan Greenspan continued his adventures in denial-land.Jill Schlesinger, CBS:
Early in the testimony, Greenspan claimed that in his career, he was “70% right and 30% wrong”, but when asked whether his action (or inaction) in the years leading up to the crisis would be put in the 30% category, he said “I don’t know.” Mr. Greenspan, I think we know. You were not the solitary cause of the crisis, but many of your decisions and core values, which prevented smart regulation, contributed to an environment that allowed the crisis to occur.
We will never understand why it is so hard for Greenspan to just say “I was wrong.” Everyone else is wrong. Why not Greenspan?
But, in any event, the more this goes on, the less people will listen to him.
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