Thursday, July 01, 2010

Nobody Could Have Predicted

Greenspan sticking with it.

In the far ranging interview, Greenspan said that raising the capital gains tax in the US would be ill advised. He also added that the financial crisis could not have been foreseen.

“It is just not feasible to forecast a financial crisis,” he said. “A financial crisis by definition is a sharp abrupt, unexpected decline in asset prices.”

I was calling it a game of Jenga back in 12/07. Just saying.