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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: Incitatus	11/23/2007 11:18:12 PM
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Nov. 23 (Bloomberg) -- Former Federal Reserve Chairman Alan Greenspan said he has "no particular regrets" and that the deepening slump in the U.S. housing market isn't a result of his policies. * * * "I have no particular regrets. The housing bubble is not a reflection of what we did, as it is a global phenomenon." * * * The collapse of the U.S. subprime market "was a shocker because no one expected it," Greenspan said. * * * Joseph Stiglitz, a Nobel Prize-winning economist, said Nov. 16 that there is a 50 percent chance that the U.S. will slide into a recession after the "mess" left by Greenspan. The retired Fed chairman defended his record in a statement released the same day, saying the criticisms were "inaccurate or incomplete." bloomberg.com

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