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Free-money wombat, Alan Greenspan's most ridiculous quote so far:
- "Low rates did not encourage risky lending..."
Former Federal Reserve Chairman Alan Greenspan is the lead witness at the first of three days of hearings by the bipartisan Financial Crisis Inquiry Commission (FCIC). He discussed his decision to keep interest rates at low levels and stated that he thinks this did not cause the riskly lending practices that took place. The 10-member panel is examining the causes of the 2008 financial markets meltdown.
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Watch Live Coverage on C-Span (includes self-updating transcript) >>
Greenspan's Prepared Statement >>
Hearings Schedule And Witness List >>
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