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Greenspan Destroys Deregulation in 16 Seconds

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Uploaded on Oct 23, 2008

Henry Waxman's Congressional Committee questions Alan Greenspan. Greenspan meets greed, shows in one answer why "trusting the markets" is epic fail.

Waxman: So where do you think you made a mistake then?

Greenspan: I made a mistake in presuming that the self-interest of organizations, specifically banks and others, was such as they were best capable of protecting their own shareholders.

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