During the interview for BBC Two's The Love of Money series, the former Fed chief Alan Greenspan speaking a year after the collapse of U.S. investment bank Lehman Brothers, said that the current economic crisis was a "once in a century type of event", and one that he did not expect to witness. Greenspan also denied any responsibility for this crisis and seems sure that the world will soon suffer another financial crisis.See below some parts from the interview and click here to read / watch it.
"The crisis will happen again but it will be different."
"They [financial crises] are all different, but they have one fundamental source."
"That is the unquenchable capability of human beings when confronted with long periods of prosperity to presume that it will continue."
"The bankers knew that they were involved in an under-pricing of risk and that at some point a correction would be made."
"The problem is you cannot have free global trade with highly restrictive, regulated domestic markets."
