Former Federal Reserve chairman Alan Greenspan answered that he had placed his trust in a flawed theory when he was called before Congress to explain why he, Goldman Sachs Treasury Secretary Robert Rubin and Deputy Treasury Secretary Larry Summers, prevented Brooksley Born, head of the Commodity Futures Trading Corporation, a government regulatory agency, from doing her job of regulating over-the-counter derivatives.
Tag Archives: Markets
The following excerpt was taken from The Huffington Post. Click here to read the article in its entirety
Wall Street fell again during trading on Friday, racing down in the afternoon to close with sobering losses yet again. The S&P 500 (1.24 percent, 13.65 points) and Dow Jones Industrial Average (1.19 percent, 122.36 points) performed the worst during the day. The NASDAQ followed suit with another loss of its own (0.91 percent, 20.64 points).