"The forces of the market are just that: They are forces; they are like the wind and the tides; they are things that if you want to try to ignore them, you ignore them at your peril, and ... if you find a way of ordering your life that is compatible with these forces, indeed which harnesses these forces to the benefit of your society, that's the way to go." -- Arnold Harberger, University of Chicago Economist
Sunday, September 28, 2008
Greenspan comments right before Lehman's failure
ABC interview on Sunday 9/15/08 with former Fed chair Alan Greenspan. This was before the effective collapse of Merrill Lynch, AIG, and Washington Mutual:
George S.: "Is this the worst that you've ever seen?" Greenspan: "Oh, by far...."
