DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> Paul Krugman: Blindly into the Bubble — Longview Institute
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Paul Krugman: Blindly into the Bubble

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For years, former Federal Reserve chairman Alan Greenspan refused to regulate the subprime lending market because of his faith that the market would regulate itself. Now that the crisis has hit, Paul Krugman writes, both the former and current chairmen have acknowledged that, for some completely unforeseeable reason, "market discipline has, in some cases, broken down."

The link address is: http://www.nytimes.com/2007/12/21/opinion/21krugman.html?_r=1&oref=slogin


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