The House Goverment Oversight and Reform Committee received Former Fed Chairman Alan Greenspan’s testimony which opened by calling the economic downturn a “tsunami.” The 1033 word document summarizes Greenspan’s take on the source of the crisis, policies for going forward, expectations for the future, as well as lessons learned. It does not address the views of those who criticize Greenspan.
blogger / October 23, 2008
Greenspan’s Written Testimony Received in Congress
It ends with the statement: This crisis will pass, and America will reemerge with a far sounder financial system.
John Snow, former Secretary of the Treasury, and Christopher Cox, Chairman of the SEC, also testified.