‘Daily Show’: Alan Greenspan Explains How He Got Financial Crisis Wrong (Video)

Former Federal Reserve Chairman Alan Greenspan slid onto the hot seat on “The Daily Show” Monday night to explain how he and other regulators failed to foresee the economic meltdown.

“The simple premise that we all made was that people would act rationally in their long-term self-interest made a huge impact on how you viewed how the economy was going to function,” Greenspan explained to Jon Stewart.

Trying to get to the root causes of the crisis — and presumably to rehabilitate an image badly scarred by the near collapse of the financial system — inspired Greenspan to write his new book,  “The Map and the Territory,” which examines the country’s recent economic history.  Read More...



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