Alan Greenspan Concedes to Flaw in His Market Ideology

Former Federal Reserve Chairman Alan Greenspan said a “once-in-a-century credit tsunami” has engulfed financial markets and conceded that his free-market ideology shunning regulation was flawed.

Greenspan said he was “partially” wrong in opposing regulation of derivatives and acknowledged that financial institutions didn’t protect shareholders and investments as well as he expected.

[Read](http://www.bloomberg.com/apps/news?pid=20601087&sid=ah5qh9Up4rIg “Read the Article”) (Bloomberg)

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