Alan Greenspan admits the failure of his pure free market ideology:

I made a mistake in presuming that the self-interests of organizations, specifically banks and others, were such as that they were best capable of protecting their own shareholders and their equity in the firms

H/t Chait over at The Plank.

Tags: Alan Greenspan, Free market ideology, Jonathan Chait, The New Republic, The New York Times, The Plank

This entry was posted on Friday, October 24th, 2008 and is filed under Economics, Politics. Comments are closed; the conversation is kept as it was.