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Who is This Man?

Alan Greenspan was on The Daily Show the other night and I hardly recognize him.  Among the things he says:

  • Market participants are not rational.
  • Models based on rational expectations led us astray.
  • Banking regulation can substantially help smooth the business cycle.
  • He would DOUBLE required bank capital from 11% to 22%!
  • The Investment Banking model as private partnerships was superior to the public company model.

Watch the interview below:

 

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