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Anorak | Greenspan Was Wrong 40 Per Cent Of The Time

Greenspan Was Wrong 40 Per Cent Of The Time

by | 23rd, October 2008

THE mighty are falling like flies today; Goldman, the hedge funds and now Alan Greenspan, the former Chairman of the US Federal Reserve Bank, grilled by the House Government Oversight Committee on the touchy topic of why the laisser faire financial markets he had lauded for so long turned out to have all the buoyancy of a lead balloon.

The Simpsons:

Smooth Jimmy Apollo: [explaining his poor prediction]

Well, folks, when you’re right 52% of the time, you’re wrong 48% of the time.

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