Alan Greenspan on "The Age of Turbulence"
-end of Cold war led to the housing bubble
-abandonment of central planning
-long-term low interest rates. housing prices went down
-no way to diffuse the bubble until the speculative fever dies down
"subprime mortgages"
popped asset bubble
"mother of all hangovers"
Bernie Madoff- Lehman Bros
Goldman
Ben Bernanke-current chair of Fed Reserve
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