Jun 13, 2008

Greenspan on the credit crisis: "The worst is over" (2008)

U.S. financial markets, roiled by the collapse of the subprime-mortgage market, have shown a pronounced turnaround since March. The worst is over for the credit crisis, or will be soon, and there's now a reduced possibility of a deep recession. Housing remains a critical problem and financial markets may not recover fully until home prices stabilize, perhaps by the end of the year.

~ "Greenspan Says Financial Markets Show Pronounced Turnaround," Bloomberg, June 13, 2008

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